HAPPY HOLI TO ALL!!!
Nifty was closed on 10 and 11 on account of Holi. In this time, global markets have made a smart rally and we have some catching up to do.
On Thursday, 12 March, 2009, nifty is expected to open up. IIP numbers are due to come out today. If the IIP figures come anywhere near street expectations, the rally will be accelerated further after the news.
The levels to watch out on Thursday are 2570 and 2625. Depending upon where we open, traders should look to buy above these levels. Getting Nifty near 2570 seems unlikely today. Buy on dips should be the mantra today.
Nifty resistance at 2590-2610-2625-2645-2670-2695. Support at 2585-2570-2545-2530-2510.
www.niftypower.webs.com
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