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Advice for – Tuesday, May 17, 2011

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Last Trading Session: As predicted by EquityPandit, Market possesses strong support at 5500 levels and can test these levels and same happened. Market saw strong support at 5500 but finally entered into the risk zone and ended near our support.

Today: Market likely to open negative. Market is near make or break zone as it is near our support of 5500. Now if market breaks then our next target would be 5400 but there are chances that market can move up in the positive zone. Investors may have good opportunity to invest at lower region if market falls as it is expected to recover sharply again. Traders should remain cautious at this point of time and should enter only if some direction is seen.  

 

BSE Sensex: (18345) The support for the Sensex is 18250-18000 and the resistance to the up move is at 18550.

                                    

NSE Nifty: (5499) The support for the Nifty is at 5400 and the resistance to the up move is at 5575.

  

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