Thursday, March 22, 2012

EOD Analysis For 22nd March 2012 and Outlook For 23rd March 2012

OI in Nifty futures was 34 million on open itself and another 1 million added after Europe opened

Critical levels and outlook remain unchanged and it Nifty is not able to cross over the 5400 hurdle; in fact once 5325-5348 zone was breached on downside, it was a free fall; it will be interesting to see the price action tomorrow; to the extent 5177-5196 holds out on closing basis, bulls may stage a comeback;

BNF 10150 pounded once and if it happens for 2 consecutive sessions, expect another free fall of 200 odd points! The fall in BNF is alarming because it shaved off much more than what is reflected on the ticker from the highs of the day!!

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