Friday, May 6, 2011

Nifty View for Monday 9 May 2011

The NSE benchmark S&P CNX Nifty snapped its nine-session losing streak by gaining 91.60 points in early trade on Friday on renewed buying on easing of macroeconomic worries in view of a sharp fall in crude oil prices.

The Nifty futures closed and settled finally at 5555, down by 96.60 or -1.77 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5595 else below support level of 5415 it would be in a downward 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 5415 & below this level the next support is seen near 5310 mark.


Posted By Commodity MCX Tips