By closing above 5385, Nifty formed base for further upside. Nifty now has higher chances of testing 5420, 5450 range. A close above 5450 is must for continuation of the trend. Fiscally nothing has improved in any country in the world but liquidity alone is driving the current up-moves in the market, hence be cautious.
US FED has been telling that there is no immediate need for any additional liquidity measure but they are ready for action if required. But market participants are expecting that some QE3 from today's FED meeting, hence there is high probability for disappointment! Exercise caution and avoid overnight positions for today.
Nifty Support: 5380, 5350, 5320
Nifty Resistance: 5400, 5425, 5450
US FED has been telling that there is no immediate need for any additional liquidity measure but they are ready for action if required. But market participants are expecting that some QE3 from today's FED meeting, hence there is high probability for disappointment! Exercise caution and avoid overnight positions for today.
Nifty Support: 5380, 5350, 5320
Nifty Resistance: 5400, 5425, 5450
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