Nifty has support 3200-3250: Reliance Money
April 20th, 2009
Key benchmark indices continued to move ahead however up move seems to attract profit booking around 3500 levels of NIFTY. On weekly charts level of 3470 coincides with 50-week Exponential Moving Average. FII continued to remain net buyer through the week with positive market breadth and sharp rise in cash volumes. Sectoral indices witnessed a mixed trend with key rate sensitive indices like BSE BANKEX, BSE REALITY & BSE AUTO posting sharp gains. RBI’s policy review on interest rate on 21st April & FII inflow likely to remain key driver for the coming week.