Friday, August 13, 2010

Live Share Market Update

US Stock markets closed modestly lower on Thursday as Traders and Investors were stormed by the unexpected weekly increase in US jobless claims and disappointing guidance from communications giant Cisco. Back in Asia, major stock averages are trading on a mixed note on the last trading session of the week.

Amongst the Indian stock indices, The NSE Nifty is expected to open in a narrow range in the morning. The Critical level for upside is seen at 5424, and if Nifty consolidates above this, it can Target the first Resistance at 5448. Higher to this level, Major Resistance for today is seen around 5466. However, if Nifty is unable to cross-over the Critical level, it can slowly slide down towards the first Support at 5404. Lower to this, Strong Support exists at 5382.

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