Nifty Trend for Wednesday 16th March 2011

The Indian markets ended in the negative territory. The S&P CNX Nifty closed at 5449.65, down 81.85 points or -1.48 %.

The Nifty futures closed in red and settled finally at 5463, down 92.30 points or 1.76 %.It is looking bearish in the coming trading session if it manages to trade below the support level of 5375 below this level it would be in a bearish trend else above 5505 it might be in an upward trend.

RESISTANCE: It has first resistance close to the level of 5505 & above this level the next resistance is seen near the 5565 mark.

SUPPORT: It has first support close to the level of 5375 & below this level the next support is seen near 5310 mark.

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Intraday Nifty Trading Tips: Technical Outlook 23 Feb 2011

Civil unrest in Libya and negative global clue made The S&P CNX NIFTY closed at 5476.10, down by 52.05 points or -0.94 %. The Indian VIX which is currently at 26.85 and it was up by 1.94 points or 7.79 %. It indicates that the market will continue to be in a downward trend.

NIFTY Futures closed at 5476.10, down by 52.05 points or -0.94 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5395 else above 5540 it would be in a bullish trend.

RESISTANCE: It has first resistance close to the level of 5540 & above this level the next resistance is seen near the 5600 mark.

SUPPORT: It has first support close to the level of 5395 & below this level the next support is seen near 5330 mark.

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Nifty Position and Intraday Levels for 22 February 2011

After a sell off on Friday market staged a smart recovery and closed above the 5500 market. The S&P CNX NIFTY closed at 5518.60, up by 59.65 points or 1.09 %. The Indian VIX which is currently at 24.91 and it was up by 0.73 points or 3.01 %. It indicates that the market will continue to volatile in the short term.

NIFTY Futures closed at 5531.05, up by 77.40 points or 1.42 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5547 else below 5400 it would be in a bearish trend.

RESISTANCE: It has first resistance close to the level of 5547 & above this level the next resistance is seen near the 5600 mark.

SUPPORT: It has first support close to the level of 5400 & below this level the next support is seen near 5340 mark.

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