Friday, June 17, 2011

Nifty Intraday: Market Today and Trend For 20 June 2011

The sell off in IT stocks due to worry of investors on interest rate Hike by RBI along with extended EURO debt crisis which could derail the global economic recovery forced the Indian Benchmark Index Nifty to close in red zone with a loss of 30 points or 0.56% below from where it closed yesterday. The Nifty Index finally settled at 5366.40 down by 30.35 points.

The Nifty futures closed and settled finally at 5372.70 down by -29.70 points or -0.55 %. Technically market seems to be bearish in the coming trading session if it manages to trade below the support level of 5310 else above resistance level of 5440 it would be in an upward trend. 

RESISTANCE: It has first resistance close to the level of 5440 & above this level the next resistance is seen near the 5540 mark.
SUPPORT: It has first support close to the level of 5310 & below this level the next support is seen near 5230 mark.


Posted By Commodity MCX Tips