Friday, May 18, 2012

Market sell off

This is another week of heavy sell off. This is second week had seen losses consecutively.  Nifty will take support here. Some important points of this stage.
  1. Global market come to support level of 200 day moving average.
  2. S&P 500 is close to 1300 level. Here this index can take support.
  3. Dollor index come to 81 level. This is resistance level for this indicator. There will correction for this index.
  4. Nifty come to 4800 level where this is support level for index. 
  5. Market will cover from this level to 5150 level. This is expected movement for market.
  6. State bank of India had posted good numbers and found support at 1800 level. 
  7. Bank nifty is again shown strength.
  8. Some counter will give good momentum. 
  9.  NTPC had found support at 140 level.
  10.  Sesa goa Sterlite amalgamation will give strength and some price math mechanism for this month.  
This is week of bearish session. There will be positive in next month.