Friday, May 28, 2010

Market prediction

Stock markets in the West clocked stellar rally on Thursday after China reported that it was not reassessing its Euro zone debt holdings. Key markets in the Asia region are trading with positive bias today morning.

Back home, The NSE Nifty is expected to open higher backed by strong movement in the Asian peers. The market is expected to open above the Critical level of 5056 wherein if consistently maintains above this level, it may Target the first Resistance at 5084. Higher to this, Major Resistance is seen at 5105 level. If Nifty falls below Critical, it may slowly come down to the first Support near 5024. Lower to this, selling pressure may intensify wherein it may move to Major Support at 4986 mark.

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