Major resistance for Nifty at 6332: CLSA

The Nifty managed to consolidate above our preferred downside target area around 5,500 and has managed to move back above the 50-day moving average which has capped price action since mid-November, says Laurence Balanco of CLSA.

January 05, 2011 / 09:03 IST

Here is expert equity call for the day on how the markets are expected to trade:

Laurence Balanco, CLSA: The Nifty managed to consolidate above our preferred downside target area around 5,500 and has managed to move back above the 50-day moving average which has capped price action since mid-November. The next event should be a test of major resistance at the 6,332 area. Support is seen around 5727 level.

first published: Jan 5, 2011 08:02 am

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