Tuesday, May 17, 2011

Nifty Futures: Market Prediction for tomorrow (18 May 2011)

Nifty extended losses to more than 1 percent on Tuesday afternoon after the country's top lender, State Bank of India, reported an unexpected sharp plunge in quarterly net profit. The markets continue to trade in the negative with S&P CNX Nifty down -60.05 points or -1.09 % at 5438.95.
The Nifty futures closed and settled finally at 5447.40, down by -41.30 or -0.75 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5410 else above resistance level of 5540 it would be in an upward trend.

RESISTANCE: It has first resistance close to the level of 5540 & above this level the next resistance is seen near the 5625 mark.
SUPPORT: It has first support close to the level of 5410 & below this level the next support is seen near 5310 mark.


Posted By Commodity MCX Tips