Market Outlook and Nifty Trend for Coming week

Indian markets showed strong opening after the holiday of Holi festival. A substantial gap up opening was seen in yesterday's trade which maintained till end of the session and market witnessed substantial rally on last trading day of the week. This rally wiped out most of the losses of the week.

Global cues from china and US supported the market sentiments and investors showed up their interest enthusiastically. NSE's Nifty gained 113.10 points and closed at 5333.55 and the index derivative of NSE (Nifty futures) closed at 5371 up by 2.14%.

Technically Market is looking positive and if Nifty futures manages to sustain above 5400 then for the coming week we can expect market to reach up to 5500-5575 level.  Level of 5370-5300 are acting as stiff support for downside.

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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.






 

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Nifty Intraday Tips: Nifty Levels For Tomorrow

The market witnessed a sudden rally which we also mentioned in our previous report. Indian equity markets ended higher for the fourth consecutive session and closed nearly 2% higher on Today's session. China's GDP growth report led the market to outperform. The 50-Share Nifty ended up 93.40 points at 4967.30 while Nifty futures closed the day at 4972.50 after earning 81.40 points.

Nifty is now seems to be heading towards 5000 level. The session witnessed a significant rise in trading volume and market breadth along with a strong momentum. So the technical indicators are suggesting that the market is likely to remain positive for the coming sessions as well.

Nifty can face a psychological resistance of 5000 level and breaching the same can extend this bullish momentum towards 5100 level. Support for Nifty Futures is seen near 4910 level. 

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Nifty Intraday Tips for Today

The First trading session of December month closed in a firm note as central banks took some promising efforts to overcome the Euro zone debt crisis. However the market could not make it to close near its day high (5,023.35) which witnessed just withing five minutes after the session started and closed at 4936.85 with a gain of 104.80 points. Nifty futures settled at 4957.15 up by 124.80 points.

Technically a the trend is likely to extended on Friday as well and Nifty may touch 5000 level today. Above the same, it may continue the bull run till 5055-5072 level while below 4900 Nifty may witness reversal move.



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Bank Nifty Futures: Technical Levels

In banking, CNX Bank Index lost -25.15 points or 0.24 %. Amongst the banking stocks Indian Overseas Bank , Union Bank and Karur Vysya Bank lead the row.

Bank Nifty Futures shut stop at 10473 down by -29.95 points or -0.28 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 10330 else above resistance level of 10650 it would be in an upward trend.

RESISTANCE: It has first resistance close to the level of 10680 above this level the next resistance is seen near to the level of 10850.
SUPPORT: It has first support close to the level of 10430 & below this level the next support is seen near 10330 marks

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Intraday Tips: Nifty Futures Trading call For Today

Nifty And Bank Nifty Futures Intraday Tips-

Buy Nifty Futures above 5571 for the targets of 5600-5630 Stop-loss-5530

If market trades negative below 5528 go for sell Targets-5500-5480

Buy Bank Nifty Futures above 10965 target-11070-11120S Stop-loss-10880

Note: Remember these tips are premarket trading calls so go for long (buy)/Short(sell) positions only if market supports the trend.

Also Do you own research before working on the tips as Local and Global economic conditions or any sudden  news can reverse the trend predicted.

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Bank Nifty Futures For Monday 16 May 2011

CNX Bank Index lost -171.60 points or -1.55 % on yesterday's trading session.  Allahabad Bank, ING Vysya Bank and yes bank were the top gainers in Bank Shares.

Bank Nifty yesterday closed at 10875.30 down by 164.25 points or -1.55 %
.It is still seems to be bearish in near term  if it is able to sustain below the support level of 10780. 

Above resistance level of 11120 it might catch the rally. 

RESISTANCE: It has first resistance close to the level of 11120 above this level the next resistance is seen near to the level of 11240.

SUPPORT: It has first support close to the level of 10780& below this level the next support is seen near 10690 marks

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