Monday, May 9, 2011

Nifty Technical View for 10 May 2011

The markets ended on a flat note today, after gyrating between zones during intra-day trades. The S&P CNX Nifty was down -0.35 points at 5551.10, after having recovered 48 points from the day's low of 5502.40. The international cues were not encouraging either.

The Nifty futures closed and settled finally at 5558.65, up by 3.65 or 0.07 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5500 else above resistance level of 5595 it would be in an upward trend.

RESISTANCE: It has first resistance close to the level of 5595 & above this level the next resistance is seen near the 5730 mark.
SUPPORT: It has first support close to the level of 5500 & below this level the next support is seen near 5350 mark.


Posted By Commodity MCX Tips