Nifty Tips
Equities ended a lackluster session on a positive note as the market discounted higher than expected inflation. WPI May inflation rose to 9.06 per cent against 8.66 per cent in April. National Stock Exchange's Nifty ended at 5500.50, up 17.70 points or 0.32 % per cent. The broader index touched a high of 5520.15 and low of 5484.20 intraday.
The Nifty futures closed and settled finally at 5516.10 up by 17.60 points or 0.32 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5490 else above resistance level of 5545 it would be in an upward trend.
RESISTANCE: It has first resistance close to the level of 5545 & above this level the next resistance is seen near the 5630 mark.
SUPPORT: It has first support close to the level of 5490 & below this level the next support is seen near 5310 mark.
In banking, CNX Bank Index gained 86.45 points or 0.81 %. Amongst the banking stocks Axis Bank, Central Bank and ICICI Bank lead the row.
Bank Nifty Futures shut stop at 10824.30 up by 91.90 points or 0.86 %. 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 10760 & below this level the next support is seen near 10600 marks
Bank Nifty Futures shut stop at 10824.30 up by 91.90 points or 0.86 %. 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 10760 & below this level the next support is seen near 10600 marks
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