Crucial support for the Nifty is at 5180-5135-5117: Gaba

Last Updated: Fri, Apr 27, 2012 04:41 hrs

Nifty (5189) we said ‘technically the market is still weak with 4240-50 being a strong resistance zone and 5135 being the outer range’ the market unfolded as expected taking care to respect the 5240 mark and closing in the red... technically no sign of strength is seen on the chares as yet and the market can be considered as down unless it closes above 5230...incidentally the low of the day was hot like a dot... 

The crucial support for the Nifty is at 5180-5135-5117 and the resistance is at 5330-5380

Prakash Gaba is a professional technical analyst and a trader based in Mumbai and runs his own consultancy.

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