Markets have finally broken down from the range and this time also we could not breakout above 5180 which i personally think would remain a dream for few more days. Bombay stock Exchange has advanced the opening bell timings by 10 minutes in order to cater to more foreign flow after SEBI gave proposal to both the exchanges to extend their timings. National Stock Exchange, India's largest stock exchange will also take a decision on by how much timings should be extended so that it can match BSE's time and does not loose out on those extra 10 minues of turnover going to BSE.
Nifty View:
After the breakdown from the range of 5050-5180, Nifty's next major supports are as follows:
1) Red trendline joined from Nov low + 50 dma.
2) Green trendline at 4930-4920 is the line joining some of the last lows on closing basis.3) Black Trendline at 4800 joining important lows since MaY 2009 + 27th Nov low from where nifty bounced back sharply
No stock updates today.
Have a nice trading day
Regards
Ankit
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