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Sudden Drop In Indian Stock Market today: Is It Alarm For Long Term Position?

Friday, April 13, 2012 | | |

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INDIAN STOCK MARKET index Nifty and Sensex are dips today in Red Zone after news coming about Infosys's projection of business less than Nascomm's guidance. Nasscomm gave the guidance of 11-14% for Information Technology sector whereas Infosys project 8-10% revenue growth for FY2013.

On another hand Infosys gives revenue growth 27% more for same period of last year.

Till the 2 PM Nifty remain flat for whole day, Nifty work on support of 5275. On 2 PM when 5275 breaks then there was sudden fall more than 70 points with in 5 minutes.

Today's move is making cautious for long term position. It is third time Nifty take support of 5185 level. This increase hope on another side.

This is my opinion, what about you? What do you think for Nifty's trend for upcoming days?

Feel free to share your views in comment section.

Thanking you

JALIN KUWAR

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