Saturday, June 25, 2011

Nifty Intraday Tips for 27 June: Tecnical Outlook

Indian Benchmark Indices made a strong come back after being range-bound from last few sessions. On Friday Indian markets made significant gain negating negative trend and closed in green territory.
CNX S&P Nifty touched a high of 5,477 due to rally in blue-chip giants stocks like infosys, ICICI Bank , and L&T Ltd and Finally shut closed near days high at 5471.25. Nifty gained 151.25 points with a gain of 2.84%.

Nifty Futures rallied 167.80 points and finally settled at 5484.00 with a handsome gain of 3.16%.
The near tern trend is likely to remain bullish if it manages to trade above 5505 level but if Nifty breaches the strong support level of 5355, trend may be reversal and it can test the lower levels like 5300-5255 levels.

Support and Resistance levels-
Support for Nifty Futures is seen near 5350 levels below which the next resistance is 5255.
It has first resistance close to the level of 5505 and above this level the next resistance is seen near the 5625 mark.


Posted By Commodity MCX Tips