Monday, October 17, 2011

Nifty and Bank Nifty Intraday tips: Market Trend

The early positiveness could not continue to end up in considerable gains and despite positive global cues, Nifty faced a consolidated trading session and closed marginally lower at 5118.25.
Nifty Futures settled down at 5122 down by 21.35. Technically market may face a slight dip towards 5060-5055 if it trades below 5100 level. The overall trend is still positive and above 5142 we can see an intraday uptrend.

In Banking sector, Bank Nifty managed to end up in green and gained 60.90 points or 0.63%. Indus Bank, HDFC Bank and axis bank were the top performer of the day.
Bank Nifty Futures shut its shop at 9698.95 up by 24.90 points or 0.26%. The coming trading sessions seems to be negative and If banknifty trades below 9650 then a downtrend till 9580 is expected else above 9755 bank nifty would be in bullish trend.


Posted By Commodity MCX Tips