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Support for Nifty is at 5700: Gaba

Source : SIFY
Last Updated: Wed, Feb 27, 2013 03:28 hrs

Nifty (5761): we said "technically the market is still weak and is now at make or break levels and we now head into the budget week with F&O expiry playing us all….the breach of 5835 would be bad for the sentiments while I would say this a very good time for Volatility with strong resistance around 5950 zones' the market unfolded weak and breached the crucial 5835 mark and crashed to closed deep in the red…technically now 5835 is a stiff resistance to deal with and the slide could proceed towards 5700

The support for Nifty is at 5700 and the resistance to the up move at 5835

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

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