Overall the Nifty could be rangebound between 5700 to 6200…this is a sideways kind of market. It'svery difficult to say which way the market will move till we come out of this range. 5727 was the low we reached on 26 november so if that is taken out further bearish for the short term.
FIIs are selling which of course needs to be watched very closely.
5400-5500 should prove to be a strong support which is also the region of the 200 day MA
Thursday, December 16, 2010
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