morning thoughts..

The markets saw good pressure in march series and achieved our targets of 5600 on nifty front , now the markets move into an oversold zone with supports at 5600 and if it has to bounce it must bounce from this levels.

Technically the markets are into oversold zones and new april series could see some bounce in index and stocks.

However one must be cautious and refrain from creating shorts initially as the markets has the potential to show and continue the ride.

On the lower side good support exists around 5580 levels whereas resistance is visible at 5700 levels.

Coming to the commodities markets after a good crack in bullions some respite in form of a bounce back is viable in coming sessions.

Energy and base metals are likely to meet selling pressure at higher levels.

The supports for the nifty is at 5580 levels and resistance at 5700 levels.

The supports for the sensex is at 18500 levels and resistance at 19500 levels.

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