Wednesday, April 18, 2012

EOD Analysis For 18th April 2012 and Outlook For 19th April 2012

OI in Nifty futures still hovering around the 21.5 million mark and VIX has cooled off a shade further;

Critical levels and outlook for both Nifty and BankNifty remain unchanged from previous update;

Upside seems capped @ 5348 on closing basis and only volumes and/or gap-up can take the index higher;
On the downside, 5177 should provide support [5032-5092 band in case of a severe sell-off; ideally 5109 should provide a very sharp bounce-back]

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