Thursday, February 17, 2011

Nifty Futures: Intraday trading Tips for tomorrow

On the back of a drop in food inflation number the benchmark indices closed into green. The S&P CNX NIFTY closed at 5546.45, up 64.75 points or 1.18 %. The Indian VIX which is currently at 22.57 and it was up down by 2.08 % or-0.48. It indicates that the market will continue to volatile in the short term.

Nifty Futures closed at 5549.95, up by 64.70 points or 1.18%. It is looking bullish in the coming trading session if it manages to break the resistance level of 5566 else below 5520 it would be in a bearish trend.

RESISTANCE: It has first resistance close to the level of 5566 & above this level the next resistance is seen near the 5625 mark.
SUPPORT: It has first support close to the level of 5520 & below this level the next support is seen near 5450 mark.


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