Thursday, February 24, 2011

Nifty Trading Strategy for Friday 25 Feb

The NSE benchmark S&P CNX Nifty battered down to 5262.70 levels from 5430 level, almost 172.85 points or -3.18 % due to renewed concerns on geopolitical front, spike in crude oil prices, a jump in inflation and caution ahead of the railway budget. The rate-sensitive banking, auto and realty sectors received a severe downfall in this session.
The Nifty Futures closed to 5262.90, down by 172.85 or -3.18 %.The Indian VIX which is currently at 28.20 and it was up by 1.65 points or 6.21 %. It indicates that the market will continue to be in a downward trend.

RESISTANCE: It has first resistance close to the level of 5430 & above this level the next resistance is seen near the 5510 mark.

SUPPORT: It has first support close to the level of 5175 & below this level the next support is seen near 5090 mark. 


Posted By Commodity MCX Tips