Friday, August 5, 2011

Nifty Trend For 8 August: Tomorrow market prediction

The Mounting concern on another recession attack and sovereign debt crisis caused the market to bath in blood again and Indian benchmark indices fall on fourth consecutive day. The NSE's Nifty touched it 52 weeks low today but recovery trades in late afternoons helped it to Hold 5200 level. Spot Nifty lost 120.55 points and ended at 5211.25. (-2.26%).
Nifty Futures down by 2.20% and closed at 5220 after losing 117.20 points.
Since the market has been In oversold phase it may remain from flat to bearish trend for coming trading session. A recovery might be seen if it trades above first support level of 5240. Below 5155 further sell off may occur.


Posted By Commodity MCX Tips