Nifty Tips
Indian Market Today-
The Indian Equity index today closed with moderate gains amid volatility.
Weak global cues and disappointing US employment data caused market to trade with negative bias. But the market managed to bounce back in the last one hour of the session following recovery in European markets as it seemed that market factored in negatives. The 50-share NSE Nifty rose just 15.30 points, to end at 5,532.05.
The Nifty futures closed and settled finally at 5534.20 up by 10.70 points or 0.19 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5550 else below support level of 5475 it would be in a downward trend.
RESISTANCE: It has first resistance close to the level of 5550 & above this level the next resistance is seen near the 5630 mark.
SUPPORT: It has first support close to the level of 5475 & below this level the next support is seen near 5410 mark.
In banking, CNX Bank Index gained 72.65 points or 0.67 %. Amongst the banking stocks Yes Bank, Kotak Mahindra Bank and Oriental Bank of Commerce lead the row.
Bank Nifty Futures shut stop at 10831.15 up by 69.55 points or 0.65 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 10865 else below support level of 10620 it would be in a downward trend.
RESISTANCE: It has first resistance close to the level of 10865 above this level the next resistance is seen near to the level of 10950.
SUPPORT: It has first support close to the level of 10620 & below this level the next support is seen near 10430 marks.
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