The Indices have dipped below key support levels and are now very close to major break down points. Going forward the 50 week Moving Average at 4870 (Nifty) and 16509 (Sensex) along with the most recent bottoms at 4803 & 16457 become very important supports for the major indices. Any break below the above mentioned levels could be a serious problem for the markets going forward.
Technical view for Tuesday, 4th March, 2008. The Indices have dipped below key support levels and are now very close to major break down points. Going forward the 50 week Moving Average at 4870 (Nifty) and 16509 (Sensex) along with the most recent bottoms at 4803 & 16457 become very important supports for the major indices. Any break below the above mentioned levels could be a serious problem for the markets going forward. The upper trading targets are placed at 17792-17923 (SENSEX) & 5101-5203 (NIFTY).
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