Thursday, June 30, 2011

Nifty For 1 July- Technical Outlook and Market Trend

The June series made a healthy and good end and Nifty Index finally succeeded to close above 5600 mark. The market started range-bound session which lasted till late afternoon and then zoomed up as traders made new buying to rollover their position from June to July series.
The Index opened up green at 5615 and finally closed at 5647.70 rallying 46.95 points (+ 0.84%). The Intraday high and low of the day were 5,606 and 5,657 respectively.

The Nifty Futures also made an up rally of 43,70 points or 0.78% and finally settled at 5647.80.
technically the market is likely to remain positive for coming trading session if it strongly trades above 5656 level while below 5560 mark Nifty is looking bearish in broad perspective.

Technical Levels-
The Support and Resistance Zone for Nifty Futures are 5608-5560 and 5656-5702 Respectively.

Nifty Intraday Tips for Tomorrow-

Buy Nifty Futures above 5656 for the targets of 5680-5708 Stoploss below 5618


Posted By Commodity MCX Tips