Thursday, February 9, 2012

Market Today: Nifty Trend and Technical Outlook

The market started its journey with a mild pace and still running in negative region. Yesterday Nifty closed at 5335.15 level and lost 26.50. The likelihood of extending this negative trend could not be ruled out for today as well. Inability to stay above 5350 level could push the index down to 5300 or even below this level. While above 5372 level Nifty can end up with some significant gains.

In Nifty Futures, Traders can go for long above 5377, targeting 5400-5435 level while below 5350 Short selling is recommended by technical analysis.


Posted By Commodity MCX Tips