Wednesday, May 18, 2011

Nifty Futures- Intraday Outlook For Tomorrow

The markets closed in the red for the third consecutive day of the week as heavyweights RIL, SBI and ONGC witnessed selling pressure through the day. The S&P CNX Nifty closed the day down -18.35 points or -18.35 % at 5420.60.
The Nifty futures closed and settled finally at 5424.05, down by -23.35 or -0.43 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5380 else above resistance level of 5465 it would be in an upward trend.

RESISTANCE: It has first resistance close to the level of 5465 & above this level the next resistance is seen near the 5540 mark.
SUPPORT: It has first support close to the level of 5380 & below this level the next support is seen near 5310 mark.


Posted By Commodity MCX Tips