Nifty Tips
After a flat closing yesterday, the markets staged a stellar comeback today as a lower GDP growth in March eased fears of a hawkish policy stance by the Reserve Bank at its policy meet scheduled next month. Finally at the close the S&P CNX NIFTY settled in the green, closing up 87.05 points at 5560.15 which is up 72 points from the day's low.
The Nifty futures closed and settled finally at 5552.20, up by 85.35 points or 1.56 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5570 else below support level of 5410 it would be in a downward trend.
RESISTANCE: It has first resistance close to the level of 5570 & above this level the next resistance is seen near the 5630 mark.
SUPPORT: It has first support close to the level of 5480 & below this level the next support is seen near 5410 mark.
In banking, CNX Bank Index gained 239.40 points or 2.22 %. Amongst the banking stocks HDFC Bank, City Union Bank and Vijaya Bank of India lead the row.
Bank Nifty Futures shut stop at 10918.50 up by 217.80 points or 2.04 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 10980 else below support level of 10730 it would be in a downward trend.
RESISTANCE: It has first resistance close to the level of 10980 above this level the next resistance is seen near to the level of 11240.
SUPPORT: It has first support close to the level of 10730 & below this level the next support is seen near 10620 marks
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