Tuesday, November 15, 2011

Market Outlook: Nifty Prediction For 16 November 2011

After trading in a tight consolidated session, spot Nifty slipped in the last hour of the trade and lost 79.85 points to close at 5068.50. After moving below the level of 5100, there is a fear among traders that Nifty will fall below 5000 soon. This panic may fortify the the downward trend in the market. If by the support of the cues and giant sectors like FMCG and banking etc, Nifty manages to breach the level of 5100, we can expect a momentum in the market.
Technically Nifty is looking bearish for tomorrow and below the level of 5044, it may slip down to 5000 and even below.

In Nifty Futures, traders are advised to wait for the predictive level to come so that they can not make direction less positions. In broad perspective, trading above 5149 would help nifty reaching 5200 level. While below 5000 level market could suffer free fall.

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Posted By Commodity MCX Tips