Monday, June 20, 2011

Market Today and Intraday Trend For 21 June 2011

Indian benchmark index ended in Deep Red zone due to  sell-off triggered on concerns of renewed tax treaty between India and Mauritius. Reliance Infrastructure, Reliance Communications and  Reliance Industries were the Topl losers today . GTL and GTL Infrastructure plunged on multiple rumors of pledged shares being sold, FCCBs default and loan re-payment to Punjab National Bank. Technology stocks led the losses. The S&P CNX Nifty finally closed at 5257.90, down -108.50 points or -2.02 %.

The Nifty futures closed and settled finally at 5265 down by -115.10 points or -2.14 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5175 else above resistance level of 5380 it would be in an upward trend.
RESISTANCE: It has first resistance close to the level of 5380 & above this level the next resistance is seen near the 5460 mark.
SUPPORT: It has first support close to the level of 5175 & below this level the next support is seen near 5090 mark.


Posted By Commodity MCX Tips