NIFTY OUTLOOK FOR 5TH JUNE 2012
NIFTY SPOT LEVEL TREND - BEARISH
Today's trading is expected between the broad levels of 4740-4915. If the market breaches the level of 4885 on the upper side then the next resistance level will be 4915. But if nifty breaches the support level of 4800 then it may go down till the level of 4740.
BANK NIFTY FUTURES TREND- BEARISH
Based on the running trading scenario bank nifty future is expected to trade between the broad levels of 9010-9600. Bank nifty futures can go down till the level of 9010 once it breaks the level of 9200. On the opposite side once breaking the level of 9500, it is expected to go upward till the level of 9600. Bank nifty will be trading between the narrow ranges of 9200-9500.
In the medium term Nifty will breaks to 3800: Jai Bala
Declining trend that seems to dominate the market. Rupee weakness and sluggish economic policies of the government has been battered by the market. No good news anywhere for the market is not coming out. That's why experts are now talking about the breakdown of the market continuously.
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