Wednesday, August 4, 2010

Market Trend and Trading recommendations for Tomorrow

Nifty continue the up trend today & in the end made the strong closing. The next key resistance for it seems to be at the level of 5500. Decisive closing above this resistance may guide it towards the levels of 5600 to 5610 in short run. In the downside the intra day support seems to be at the level of 5400 to 5405. Closing below this support may slip it till the lower levels of 5350 to 5360 in short run. For trading we already recommend that every decline in Nifty future is the buying opportunity until it close below 5350 for the targets of 5500,5550 in near run.

Sensex made the strong upmoves today and in the end closed very close to days high. Now it is looking to conitue the up trend for some more time. The next resistance seems to be at the levels of 18310 to 18350. Decisive closing above this resistance zone may lead it towards the level of 18800 in near run.

Daily Market Review at- Nifty Tips


Posted By Commodity MCX Tips