Nifty Tips
The Nifty Index today opened with negative bias and closed down by 53 points which was near its day low. Selling Pressure in banking and Reality sectors due to hike of 25 basis points expected in monetary credit policy due on Thursday became the main reason of this drag out.
The Nifty futures closed and settled finally at 5452.65 down by -63.15 points or -1.14 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5435 else above resistance level of 5505 it would be in an upward trend.
The Nifty futures closed and settled finally at 5452.65 down by -63.15 points or -1.14 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5435 else above resistance level of 5505 it would be in an upward trend.
RESISTANCE: It has first resistance close to the level of 5505 & above this level the next resistance is seen near the 5630 mark.
SUPPORT: It has first support close to the level of 5435 & below this level the next support is seen near 5310 mark.
In banking, CNX Bank Index gained -176.42 points or 0.96 %. Amongst the banking stocks Andhra Bank, Syndicate Bank and Development Credit Bank lead the row.
Bank Nifty Futures shut stop at 10633 down by -191.30 points or -1.77 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 10600 else above resistance level of 10850 it would be in an upward trend.
RESISTANCE: It has first resistance close to the level of 10850 above this level the next resistance is seen near to the level of 10990.
SUPPORT: It has first support close to the level of 10600 & below this level the next support is seen near 10330 marks.
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