Thursday, July 7, 2011

Market Updates: Nifty Prediction and Technical Levels

After three days range-bound choppy sessions the Indian markets zoomed up on Thursday and gained almost 2% amid strong global cues. FII's Investment of more than 10,000 crore and heavyweight stocks like reliance industries supported the market today. Bharti Airtel, ITC, NTPC and L&T were the other leading stocks for today.
Nifty Index closed at 5728.95 and saw a rally of 103.50 points (1.84%).
The Nifty futures closed and settled finally at 5745.30 and surged 108.65 points or 1.93 %. For the time being the crucial downside level for nifty futures is 6000 as below the same Nifty may see some downfall till 5490 levels. But the upside momentum of nifty can last for one more day if it manages to stay above 5755 mark.

Technical Levels-
In broad perspective the first resistance for Nifty is 5770 close to the level of and the next resistance is seen near 5870 mark.
Support range is 5600-5490.


Posted By Commodity MCX Tips