GEPL Technical view-29/12/2010

Today Nifty has closed with a loss of 2 points at 5996. We at GEPL are expecting this range bound activity will still continue for next few trading session till the market is not able to give a breakout of breakdown from the range of 5950-6050. Breakout or breakdown from this range will be crucial for the direction of upcoming sustainable trend. Intraday support for the day is placed at 5950 and 5900. Resistance is placed at 6050 and 6090. Regarding sector specific view are of the view that BSE-Metal and BSE-FMCG will out perform the broader indices while BSE-Heath care and BSE-Capital Goods will under perform the broader market.


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