Thursday, August 18, 2011

Nifty Levels and Market Trend For 19 August 2011

Immense cut off was seen in Indian benchmark indices and mrket dripped over 2% on Thursday. Heavy selling was seen in IT and Banking shares due to Global growth concern and weak cues from overseas.
NSE Index Nifty closed below 5000 mark and hit a day low of 4932.32 during last leg of the trading session and closed near the same at 4944.15 down by 112.45 points.
Nifty futures lost 136.65 points and settled at 4931.10 which was 2.68% below its previous close. The market has been trading in oversold territory and a recovery might be seen on Friday session. But still Nifty will have to clear above 5000 mark again to be in bullish momentum. Below 4919 more downfall till 4900-4870 is expected.
Traders are advised to wait till 4965 (day trading) to initiate long positions.


Posted By Commodity MCX Tips