Saturday, October 29, 2011

Nifty Intraday Tips for Monday (31 October 2011)

This festive week turned out to be positive for the Indian markets and Nifty saw a blockbuster rally on the last trading day of the week. Nifty gained more than 3% and closed above 5350 level. Nifty Futures closed at 5386.05 up by 154 points.
After breaking the major resistance level of 5200, Nifty did not lose its momentum and crossed the 5350 level soon. The European Debt deal was the major factor for this positive day.
The market is still likely to run in positive zone and more upside is anticipated by the experts. We can see nifty to reach up to 5500 soon. For coming trading session, Intra-day resistance is seen near 5420 above which Nifty could test the levels of 5458 and then 5570. While it has intraday support of 5376. Major support is 5200.

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