Nifty Tips
All the gains of Tuesday went in vain and Nifty Touched its two years low at 4640.95 during afternoon trades. However Nifty manged to recover thereafter and closed above 4700 mark at 4706.45 down by 105.90 points.
Nifty Futures settled up at 4708.95 after losing 96.35 points. As we could see today, a pullback was seen today after 4650 level for short covering so chances are there for a positive day tomorrow. Above the level of 4742, an Intraday climb till 4778-4790 and even more is expected. However below 4640 level, Nifty can extend its extreme bearishness. Major support for Nifty is seen around 4580 while resistance is seen near 4780 mark. A break in either side would decide the direction of the market.
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Nifty Futures settled up at 4708.95 after losing 96.35 points. As we could see today, a pullback was seen today after 4650 level for short covering so chances are there for a positive day tomorrow. Above the level of 4742, an Intraday climb till 4778-4790 and even more is expected. However below 4640 level, Nifty can extend its extreme bearishness. Major support for Nifty is seen around 4580 while resistance is seen near 4780 mark. A break in either side would decide the direction of the market.
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