Thursday, May 26, 2011

Market Updates and Nifty Outlook for 27 May 2011

Markets bounced back after Wednesday's drubbing and closed near the days high tracking firm Asian peers and buying interest in oil & gas shares. The S&P CNX Nifty ended at 5412.35, up by 63.40 points or 1.19 %.
The Nifty futures closed and settled finally at 5412.55, up by 63.10 points or 1.18 %. It is looking bearish in the coming trading session if it manages to trade support level of 5350 else above resistance level of 5420 it would be in an upward trend.

RESISTANCE: It has first resistance close to the level of 5420 & above this level the next resistance is seen near the 5530 mark.

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


Posted By Commodity MCX Tips