Nifty sees resistance at 5950, next 2 days crucial-market 12/12/2012


it was a volatile session for the market. The Nifty swung wildly in a 90-point range of 5,960 and 5,870 before closing flat around 5,900. The Sensex ended the day almost flat at 19,387.
the market seems to have reached some kind of a resistance point. the next two trading sessions are important. Unless the market doesn’t try and pierce the 6,000 mark, you would have to conclude that we are getting into another sideways range-bound market. The earlier trading band was between 5,600 and 5,800, this trading band is between 5,800 and 6,000.
the market is not getting the right momentum to push through the 5,950-5,980 barrier. “Resistance normally holds, unless proved otherwise. Today, there was an opportunity to prove that this market could go towards 6,000. The bulls did not have the required strength to do that. The sellers apparently have the upper hand.


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