Thursday, January 19, 2012

Nifty Today and Intraday Trend for Tomorrow

Indian Share Market showed a significant gain on the back of firm global cues. International Monetary fund took an initiative to help the countries affected by Euro debt crisis which also supported the market to trade up.

Spot Nifty managed to cross above the psychological level of 5000 level and ended at 5018.40. Nifty Futures Shut its shop at 5020.25 up by 62.75 points (1.27%).
Nifty remained above 5000 level for most part of the trading session which is good sign for further extending this positive trend. Since Nifty kept hovering around 5K level so the chances of shorting pressure due to profit booking can not be ruled out.

Technically trend is bullish and trading above 5030 would bring more upside in Nifty Futures. While below 4990 Nifty may face sell off.



Posted By Commodity MCX Tips