GEPL Technical view on Nifty – 01st March 2011 (video)

Today Nifty closed at 5334 with a gain of 30 points comparative to its previous day close. We at GEPL Capital are expecting that ongoing rally is straightly heading towards the mark of 5175 on the downside. From intraday perspective on the downside support is placed at 5300 and below that at 5220 while resistance is placed at 5350 and above that at 5450 will prove to be a major hurdle for bulls. Talking about sector specific, in our view Metals and FMCG will out perform the broader indices while Banking and Capital Goods will under perform Nifty.

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