Tuesday, February 8, 2011

Nifty Tradind Tips: Trend for Wednesday, 9th Feb 2011

Benchmark Indies S&P CNX NIFTY ended in red and closed below crucial support levels of 5350. It was down by 83.45 points or 1.55 %. The Indian VIX which is currently at 24.74 and it was up by 0.20 % % or 0.05 points indicates that the market will continue to volatile in the short term.
NIFTY Futures closed at 5320, down 74.05 or 1.37 %. It is looking bearish in the coming trading session if it manages to break the support level of 5225 else above 5445 it would be in a bullish trend.

RESISTANCE: It has first resistance close to the level of 5445 & above this level the next resistance is seen near the 5566 mark.
SUPPORT: It has first support close to the level of 5225 & below this level the next support is seen near 5170 mark.


Posted By Commodity MCX Tips