Nifty Trend for 20/04/2012

By admin on

Markets opened on a cautious note on account of mixed global cues. Nifty future crossed its crucial resistance of 5330 and tested the next resistance of 5370 after the positive European Markets opening. Low volumes were witnessed in today’s session indicating that volumes are not supporting buying sentiments. Now, nifty needs to maintain above 5410 for further strength. On lower side, any fall below 5300 will drag it towards next stop of 5250.

TREND: SIDEWAYS

SUPPORT: 5300 & 5250 RESISTANCE: 5410 & 5460

Major Market News-

  • Sensex closes 111 pts up; BSE Auto @ record high, CIL up 4%.
  • ACC consolidated Q1 profit plunges 57%.
  • PNB cuts base rate by 25 bps to 10.50%.
  • Essar Shipping bags two orders worth USD 25 mn.
  • KNR Constructions bags order worth Rs 1.8 bn.
  • Exports grow 21% at USD 303.7 bn.

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