Monday, July 16, 2012

Nifty Today: Market Prediction and Technical Levels

Indian stock markets started the week positively but on a flat note. The cue-less week led to a range bound dominated session last week and market is still waiting for cues like federal statement, presidential elections and governments decision on diesel price etc. Since the June inflation data is expected to remain high from the last time, we can expect market to go down on the back of it. But for today's market, Nifty is likely to remain range bound with slightly positive bias.

Technical charts of Nifty suggests that 5277 can act as a crucial level for upside. If Nifty manages to sustain above this level, it may further extend to 5300-5350 level. 5200 is the key support level.

Traders are suggested to take positions very coutiously. The short term trend of Nifty is looking negative.  


Posted By Commodity MCX Tips