Later on despite of poor IIP data market recovered but closed down.
Most indices closed in the red and most of the liquid stocks lost valuation heavily.
As we put even before that even very good Q4 numbers may fail to boost sentiments of the market and April may prove to be a month of correction which can be very severe as well.
Level of 5261 on the lowerside may be a strong support and it will be a major turning point for bears.
From 5261 either we will see sharp recovery or heavy profit booking.
For the time being 5419 is the sky limit and Nifty will find it very hard to breach this level and close above it.
| Important Nifty Levels for 13th April | ||
|---|---|---|
Nifty Pivot | 5348 | |
| Support | ||
| 5322 | 5296 | 5267 |
| Resistance | ||
| 5376 | 5397 | 5414 |
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