Tuesday, August 16, 2011

Market Outlook: Nifty Levels for 17 August 2011

Mid cap and Small dug up the market today and Indian bourses ended in the negative territory due to last hours pull off by institutional investors.
Nifty could manage to stay above 5000 mark and closed at 5035 off its day's low of 5016 after losing 37.15 points from its previous close.
Midcap and small cap stocks were the major responsible stocks for this moderate loss.
Nifty Futures ended at 5040 down by 39.85 points (-0.78%).
The fundamental signals are indicating that the market may face more downfall in coming trading session and If nifty futures breaks 5000 mark on downside, it may further take a dip down to 4950.

RESISTANCE: It has first resistance close to the level of 5140 & above this level the next resistance is seen near the 5235 mark.
SUPPORT: It has first support close to the level of 5000 & below this level the next support is seen near 4950 mark.


Posted By Commodity MCX Tips