Nifty again found support at 5400 again for the second time in the last week and closed at 5445. Now 5150 and 5250 remain two key support levels and resistances are at 5530-5550 and 5600.
For the coming week market participants will closely watch the damage caused by the tragedy and destruction from Japan's massive earth quake and tsunami. There will also be concern about the potential for more unrest in the Middle East, and have lingering fear about Europe's sovereign debt problems. The market is also likely to get affected by the direction of oil price.
Therefore, market may remain volatile in the coming week.
Bata India, Jubilant foods, Coromadel are tarding above all the moving averages and are showing relative strength.
Sunday, March 13, 2011
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