Friday, November 4, 2011

Nifty Intraday Tips: Levels For Today

The markets recovered from the day's low to end in the green and ended up in flat note again. The Nifty after touching a low of 5201.85 recovered 79.75 points to a high of 5281.60 on fresh hopes the EU bailout will be passed by the Greek Parliament. Things turned around after the Greece ruling party withdrew support and asked the Prime Minister to resign, thereby raising hopes that a referendum to the latest EU bailout package may not be needed. The index finally ended flat at 17,482. Nifty ended at 5,265.75 up 7.30 points.
Nifty Futures shut stop at 5295.85 up by 15.65 points or 0.30 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5335 while below support level of 5220 it would be in a downward trend.
RESISTANCE: It has first resistance close to the level of 5335 & above this level the next resistance is seen near the 5380 mark.
SUPPORT: It has first support close to the level of 5220 & below this level the next support is seen near 5080 mark.

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Posted By Commodity MCX Tips