Thursday, November 24, 2011

Market Outlook and Nifty Position for Tomorrow

As we predicted on our previous post that market might remain positive today after taking a rebound, and the same happened today. The NSE index smartly recovered from day's low due to short covering on the last day of F&O expiry and managed to close above 4750 at 4756.45 with a climb of 50 points.

Nifty Futures also added 53.10 points to its last figure and settled at 4757 level. Nifty made a low below 4650 mark and then gradually recovered to close near its day high. The way market behaved today, it left no direction to decide for the coming session. Technically 4645 will act as crucial level for down down and we can see a straight downfall towards 4620-4600 below this level. While above the level of 4780 we can expect some good upside momentum in tomorrow trading session.

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Posted By Commodity MCX Tips