Wednesday, May 11, 2011

Nifty Trend and Technical Levels for 12 May 2011

The markets closed marginally higher on the third consecutive day of lackluster trades where the markets were mainly moving sideways. The S&P CNX Nifty closed up 23.80 points or 0.43 % at 5565.05.
The Nifty futures closed and settled finally at 5562.80, down by 17 or 0.31 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5605 else below support level of 5510 it would be in a downward trend.

RESISTANCE: It has first resistance close to the level of 5605 & 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 5440 mark.


Posted By Commodity MCX Tips