Monday, May 3, 2010

Markets to remain range bound for some time...


On friday, the beginning of new series, bulls pushed markets further to retest the 20 DMA. It looks like markets will remain rangebound between 5200 and 5300 levels for some more time, before the next big move begins and as of now there might be another bull run to test 5400 levels and beyond in this series.

The key levels for today

Resistance levels : 5285, 5306, 5322

Support levels : 5266, 5250, 5234


-Happy Trading

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