Tuesday, December 1, 2009

Markets to stay around 5050 levels before gaining further momentum


Yesterday market had a strong gap up opening and was pushed higher to test the key level of 5050, where there was a long tussle earlier between the bulls and bears.

It now looks like more of a consolidation with 5050 as the pivot before bulls pushing it higher. 

Volumes are low on green days and need to increase for further momentum and it might take a few sessions before that happens.

Resistance levels : 5053, 5066, 5078


Support levels : 5018, 5003, 4985


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Happy Trading
www.tripleint.com

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