Thursday, February 10, 2011

Nifty Today Review and Trend for 11 February 2011

Market had a volatile trading session with the trading range of 70-80 points, intraday pullback attributed to the heartening decline in food inflation. The S&P CNX Nifty shut shop at 5225.80, down 27 points or –0.35 %. The Indian VIX which is currently at 24.82 and it was down by 1.66 % % or -0.42 points indicates that the market will continue to volatile in the short term.
NIFTY Futures closed at 10095, down 35.95 or -0.35 %. It is looking bearish in the coming trading session if it manages to break the support level of 5211 else above 5300 it would be in a bullish trend.

RESISTANCE: It has first resistance close to the level of 5300 & above this level the next resistance is seen near the 5350 mark.
SUPPORT: It has first support close to the level of 5211 & below this level the next support is seen near 5138 mark.


Posted By Commodity MCX Tips