Monday, January 17, 2011

NSE Market Updates and Trading Tips For 18 January 2011

Nifty Future moved under a tight range after sharp fall in last 10 trading sessions and closed in flat note. NSE Index closed at 56,54.75 just 0.2 points more than previous closing and traded in a range of 5625-5680. If it manages to sustain below 5620 level we can see some more down trend in it. One should wait for proper break out. Support for Nifty Future is at 5600/5565 and Resistance is at 5730/5860 levels.

RESISTANCE: It has first resistance close to the level of 5730 & above this level the next resistance is seen near the 5860 mark.

SUPPORT: It has first support close to the level of 5600 & below this level the next support is seen near 5565 mark.

Trading Strategy- There seems No particular direction for Nifty to move. If Nifty Manages to sustain above 5700 It May see the rally up to 5750-5800-5850 below 5600 it may see 5565-5510.


Posted By Commodity MCX Tips