Tuesday, November 8, 2011

Market Forecast: Tomorrow Nifty position

The market extended its consolidated pattern on Monday as well and ended flat after making a valley during afternoon trades. Before that Nifty opened the day higher on the back of positive global cues and touched 5300 level but soon gave up all gains due to weakness in realty stocks and dropped down to a low of 5252. After that it attempted to recover as European market bounced back and Nifty finally ended at 5289.35 up by 5.15 points.

Nifty Futures lost 5.85 points and settled at 5311. Now if supported by cues we can see an upside in market tomorrow. Nifty futures, above 5337 can touch the level of 5355-5372 and even 5390 later while below 5289 which is crucial downside support, it may slip down to 5255. Still Nifty has major support level at 5200 level.

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Posted By Commodity MCX Tips