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Advice for – Wednesday, March 10, 2010

Yesterday: As expected, Indian Stock Market remained flat with high level of volatility. Market was intact rangebound.

 

Today: Indian Stock Market is expected to open flat to positive. 5070 has again emerged into a very strong resistance for Nifty. Market would remain rangebound but would see some sharp movement in a day or two. Definitely there would be a profit booking at higher levels.

 

BSE Sensex: (17053): The support for the Sensex is 17000 and the resistance to the up move is at 17200-17280.

 

NSE Nifty: (5102) the support for the Nifty is at 5070 and the resistance to the up move is at 5150.