Wednesday, June 29, 2011

Nifty Intraday Tips For 30 June 2011: Technical Outlook and Market prediction

The Domestic market Today was supported by the strong cues from Asian markets which prevailed the foreign investors interest and helped market to continue its upward rally. The Nifty Index finally closed near its day high at 5600.45, rallying 55.15 points with a gain of almost 1%.

The Future Derivative of NSE index (Nifty Futures) rallied up 55.08 (0.99%) and finally settled at 5604.10. It is likely to remain bullish till it manages to sustain above 5625 levels which crucial upside resistance level for tomorrow. On the downside 5490 will act as an important level below which Nifty futures could face some downward trend.

Support and Resistance levels-

First resistance for Nifty futures is seen near 5625 level above which the next major resistance is 5726 mark. On the downside the first support level is close to 5564 mark and next support is seen near 5470 level.

Nifty Intraday Tips for Tomorrow-
Buy NIFTY above 5617.50 for the targets of 5640-5665. Keep a Stop-loss below 5578 mark.


Posted By Commodity MCX Tips