Stock Market update 10th Feb 2012

10th Feb,2012,Friday

Nifty: 5730.85 (-41.50 points)
Sensex: 17748.69 (-82 points)

USD/INR: 49.60
Gold (MCX): 28242

Nifty
Support levels for Nifty Tommorow 5332 and 5293
Resistance levels for Nifty Tommorow: 5418 and 5466

Gainers in Nifty: Tata Steel (5.12%),Sail (3.95%) and Bajaj auto (2.25%)
Losers in Nifty: Hindalco (-4.34%), Rel Infra (-3.97%) and Ambuja Cement (-3.96%)

I still ask my friends to have patience as long as Nifty is above my crucial level of 5322 which I have been mentioning in all my articles.On the daily chart it appears that Nifty has made a formation of Bearish Harami.As per the weekly chart 5399 is a very crucial resistance for Nifty.Beware of this level.Surprisingly Tata Steel posted a smart recovery after posting an unexpected drop in Quarterly profits

As long as Sensex is above 17671,I am comfortable with Sensex.The Sensex has very very strong resistance at 18005.This was the 1st week after previous 5 weeks,that Sensex opened higher and ended lower.

Sensex
Support levels for Sensex Tommorow :17570 and 17419
Resistance levels for Sensex Tommorow :17881 and 18041


Regards
KD