Tuesday, November 22, 2011

Market Prediction: Nifty Trend for 23 November 2011

After suffering eight days losses, Indian markets could finally see some gains on Tuesday and NSE index Nifty ended with substantial gain after making a high of 4850+ and could manage to close above 4800 mark.

Nifty Futures gained 26.70 points to close at 4810 in a highly volatile trading session. The market is still looking uncertain as we could see the Nifty taking a reverse move after day's high of 4852. Though nifty has given a sign of recovery from an oversold position but we still can't say that the down trend of Nifty has gone. Having support near 4768, Nifty may take a dip towards 4725 below the same while above the level of 4872 market is bullish.

RESISTANCE: It has first resistance close to the level of 4870 & above this level the next resistance is seen near the 4910 mark.
SUPPORT: It has first support close to the level of 4770 & below this level the next support is seen near 4680 mark.

Other Articles you might like-


Posted By Commodity MCX Tips