Tuesday, June 28, 2011

Nifty Intraday Tips for 29 June: Market Prediction and Technical Outlook

Market today closed with marginal gain after a choppy session. The S&p CNX Nifty in the early hours of session, touched the 5500 mark and even fall down to 5496.35 level due to profit booking but soon it recovered from this decline as a result of new buying at lower level and then continued to move sideways.

Oil and Gas stocks, Reality and FMCG were the major losers today while banking stocks, Auto sector and capital goods shares closed with significant gain.

The Nifty Futures rallied up 11.80 points and finally settled at 5646 with again of 0.21 %. Nifty futures likely to see further upside if it trades above 5560 levels which can help nifty futures to cross 5600 levels in coming trading sessions. In Broad perspective, below 5490 Nifty might face a drift down fall towards 5400 mark.

Support and Resistance for tomorrow-Technical support level for Nifty futures is seen near 5530 below which the next support level is close to 5480 mark.

Resistance for Nifty futures is seen near 5560 followed by next resistance close to 5625 mark.


Posted By Commodity MCX Tips