Monday, August 1, 2011

Nifty Prediction For 2 August: Tomorrow Market Trend

As we predicted on our previous post, after four days continuous loss Indian benchmark recovered a bit and S&P CNX Nifty could able to end up in green. The market surged in early hour of the trade on the back of positive cues and news from the overseas.
Spot Nifty ended the session at 5516.80 adding 34.80 (0.63%) points to its previous close while Nifty Futures settled at 5528.55 up by 40.55 or 0.74% on the very first day of August.
From here the market may extend this positive trend if it breaks 5590 mark. Intraday trend is likely to remain consolidated to positive for tomorrow.

Support- 5464- 5440
Resistance- 5536- 5585

Intraday Traders can Buy Nifty Futures above 5535 to target 5560-5585 Stoploss below 5500.


Posted By Commodity MCX Tips