Monday, July 4, 2011

Nifty Futures: Intraday Tips for 5th July 2011

Taking cues from global markets, the Indian benchmark index ended the first day of week with green mark. The National Stock Exchange Nifty gained 23.3 points (0.41%) today and closed at 5650.50 after making an Intraday high of 5679.65.
Reality stocks boomed up the day as the giant stocks like Reliance infrastructure and DLF added the significant contribution to the market.

While the Nifty Futures finally settled at 5665.85 up by 27.45 (+0.49%) points.
The Market may face some consolidation phase from here but if Nifty Futures manages to stay above 5678 level, a upside momentum can be seen till 5726 while below 5617 Nifty is seems to be bearish.

Technical Levels-
The First resistance is seen near 5680 above which the next resistance is close to the level of 5726.
The Support zone for Nifty Futures is likely to be 5617- 5600.


Posted By Commodity MCX Tips