MARKET OUTLOOK ON 24th 2013

[john merits]

Nifty could test its major support around 5,920

Indian benchmark indices tanked today following a sharp fall in its global counterparts. While Japan's Nikkei ended 

down 7 percent, other Asian stocks also suffered after HSBC's latest China's flash PMI slipped below the boomand-bust level of 50 for the first time in seven months. Nifty witnessed a high volatility this week. It initially moved 

higher, even above the 6,220 level but could not sustain it and moved lower to test 6,000 levels after breaching 

6,050 level and ended the day well below the crucial 6,000 mark. From here, it seems that the bulls may not be 

able to push the prices higher as the range of 6,000-6,040, is a strong resistance for Nifty from where bears can 

take control from them once it comes near to said level.

To Read More On Stock Market  Levels 

Must Read : Free Nifty Tips