Nifty Tips
Market Review-
The markets ended lower for the third straight day as slower IIP growth coupled with weak global cues weighed on the investor sentiment. The Nifty opened in red and remained subdued until the industrial output data for the month of April came in at 6.3%, putting pressure on stocks from capital intensive sectors. The S&P CNX Nifty touched a low of 5,457 in the afternoon session and recovered partially to close at 5,486, down -35.25 points.
The Nifty futures closed and settled finally at 5484.15 down by -35 points or -0.63 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5440 else above resistance level of 5520 it would be in an upward trend.
RESISTANCE: It has first resistance close to the level of 5520 & above this level the next resistance is seen near the 5630 mark.
SUPPORT: It has first support close to the level of 5440 & below this level the next support is seen near 5320 mark.
In banking, CNX Bank Index lost -71.15 points or -0.66 %. Amongst the banking stocks Central Bank, Deana Bank and Vijaya Bank lead the row.
Bank Nifty Futures shut stop at 10690.05 down by -98.60 points or -0.91 %. 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 10815 it would be in an upward trend.
RESISTANCE: It has first resistance close to the level of 10815 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.
Posted in: 
0 comments:
Post a Comment