#51 Nifty Update

Market was again boredom for the investors. It almost played in the range of 10 points after the initial volatility during first hour. Market has closed at crucial level of 5567 as i had mentioned as a important support yesterday. Market was not able to take support of 200 DEMA today and closed below it finally after 3 days…Is this the sign of bearish movement??? Global cues are very dangerous as they are on the edge of knife. If Greece is not bailed out then it will have ripple effect on many countries and then to the world. Domestic market has not much news but tomorrow we have results of many important companies such as Ashokley, Wipro, CrompGreav, HDFC bank, SKS and Chambal fert. So i request to be cautious on the above mentioned stocks. Today markets and news where too quiet. Technically speaking market is going to take support of 5567 (fibonacci level), 5551 (50DEMA) and 5540 a last rally retrenchment.
NIFTY levels for 19th July:-
R-5581            S-5551
R-5616             S-5539
R-5630             S-5475
R-5700             S-5400

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