Monday, February 21, 2011

Nifty Position and Intraday Levels for 22 February 2011


After a sell off on Friday market staged a smart recovery and closed above the 5500 market. The S&P CNX NIFTY closed at 5518.60, up by 59.65 points or 1.09 %. The Indian VIX which is currently at 24.91 and it was up by 0.73 points or 3.01 %. It indicates that the market will continue to volatile in the short term.

NIFTY Futures closed at 5531.05, up by 77.40 points or 1.42 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5547 else below 5400 it would be in a bearish trend.

RESISTANCE: It has first resistance close to the level of 5547 & above this level the next resistance is seen near the 5600 mark.

SUPPORT: It has first support close to the level of 5400 & below this level the next support is seen near 5340 mark.

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Posted By Commodity MCX Tips