Domestic stock indices are seen opening higher

Friday, January 20, 2012

 Domestic stock indices are seen opening higher tracking the gains in global Markets. The NSE Nifty after, its opening, may show a sideways movement between its Critical support at 5008 and the first resistance at 5055.Any upmove above 5055 may find resistance at 5073.From mid session onwards, the earnings reports can have an impact on the stock wise movements and a fall below 5008,Nifty may loose some of its strength.The first support for the day is at 4976,a fall below this can attract fresh short positions and final support for the day comes around 4944
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