Tuesday, July 10, 2012

Nifty Trend & Share Market Outlook

Indian equity markets traded well today and all the indices witnessed significant gains.

As we expected in our Nifty Report today that market might turn out to be positive today, the same happened. After spending the whole last week trading sideways, BSE's Index closed at 17620 after climbing 227 points while Nifty gained more tha 70 points to close at 5345 level. Strong European cues supported the market and Indian share markets climbed 1.3% after the rally seen in European markets.

In domestic market, Bank stocks boomed today with SBI and ICICI bank each gaining more than 1% and HDFC up by 2%. ITC an Larsen & Toubro climbed 2% each while top commercial vehicle maker Tata Motors and largest car manufacturer Maruti Suzuki advanced 3% each.

The market is expected to ride the bull tomorrow also and we can expect Nifty to reach 5400 soon.
Technically, If Nifty Tomorrow sustains above 5400, we can expect this positiveness to persist for the day long. 5300 is the immediate support level for spot nifty.


Posted By Commodity MCX Tips