Tuesday, June 21, 2011

Nifty Intraday Tips for 22 June 2011

The benchmark indices had gone into a tizzy in the previous session on fears that the government may re-visit the Indo -Mauritius double taxation avoidance treaty in an attempt to tax capital gains on investments routed through Mauritius. And the woes were only compounded by the weak cues from the global market front in wake of the inability of European governments to agree on a loan payment scheme to spare Greece from default. The S&P CNX Nifty finally closed at 5275.85, up 17.95 points or 0.34 %.

The Nifty futures closed and settled finally at 5276.10 up by 16.05 points or 0.31 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5175 else above resistance level of 5380 it would be in an upward trend.
RESISTANCE: It has first resistance close to the level of 5380 & above this level the next resistance is seen near the 5425 mark.
SUPPORT: It has first support close to the level of 5175 & below this level the next support is seen near 5090 mark.


Posted By Commodity MCX Tips