Nifty Intraday Levels and Trading Tips

Indian share market witnessed moderate gain today. NSE Nifty contended to close in green mark and earned 7.90 points. Nifty closed at 4873.90 while its future derivative added 14 points to its previous close and closed at 4892.20. The trend is seems to be skeptical as Asian market looking modest from last couple of days. As per the global scenario and our predictions the market is treading in such a way that it may witness a sudden rally.
Technically Nifty is facing first resistance near 4918 level. Breaching this level may attract 4950-4972 levels in Tomorrow's session. Major support level is 4804.

 

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Nifty Levels and Market Trend For 19 August 2011

Immense cut off was seen in Indian benchmark indices and mrket dripped over 2% on Thursday. Heavy selling was seen in IT and Banking shares due to Global growth concern and weak cues from overseas.
NSE Index Nifty closed below 5000 mark and hit a day low of 4932.32 during last leg of the trading session and closed near the same at 4944.15 down by 112.45 points.
Nifty futures lost 136.65 points and settled at 4931.10 which was 2.68% below its previous close. The market has been trading in oversold territory and a recovery might be seen on Friday session. But still Nifty will have to clear above 5000 mark again to be in bullish momentum. Below 4919 more downfall till 4900-4870 is expected.
Traders are advised to wait till 4965 (day trading) to initiate long positions.

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Today's NSE Market Review & Technical Outlook For 2 June 2011

The markets closed higher for the second consecutive day with the S&P CNX NIFTY continuing its northward journey and closing the day up 31.85 points or 0.57 % at 5592.
The Nifty futures closed and settled finally at 5590.45, up by 35.55 points or 0.64 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5630 else below support level of 5540 it would be in a downward trend.

RESISTANCE: It has first resistance close to the level of 5630 & above this level the next resistance is seen near the 5730 mark.  

SUPPORT: It has first support close to the level of 5540 & below this level the next support is seen near 5480 mark.

In banking, CNX Bank Index gained 12.55 points or 0.11 %. Amongst the banking stocks Vijaya Bank, Indian Overseas Bank and Bank of Maharashtra lead the row.

Bank Nifty Futures shut stop at 10948 up by 17.40 points or 0.16 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 10990 else below support level of 10850 it would be in a downward trend.

RESISTANCE: It has first resistance close to the level of 10990 above this level the next resistance is seen near to the level of 11240.
SUPPORT: It has first support close to the level of 10850 & below this level the next support is seen near 10730 marks.

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Nifty View for Tomorrow 6 May 2011

Markets were choppy for the most part of the day as investors stayed to the sidelines due to lack of direction, but heavy selling during the afternoon trades front liners- ICICI Bank, ITC,  HDFC Bank  and Bharti Airtel dragged the NSE benchmark index S&P CNX Nifty, down -77.30 points or -1.40 % at 5458.40.

The Nifty futures closed and settled finally at 5458.40, down by -79.65 or -1.44 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5440 else above resistance level of 5595 it would be in an upward trend.

RESISTANCE: It has first resistance close to the level of 5595 & above this level the next resistance is seen near the 5730 mark.

SUPPORT: It has first support close to the level of 5440 & below this level the next support is seen near 5350 mark.

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Intraday Nifty Tips for 13 April 2011

Yesterday The C&P Nifty closed almost at the day's low. The Nifty Futures closed at 5798 showing a downfall of 56.90 points or almost 1%. The market seems to be bearish in near term and if Nifty trades below 5785 Level it could see some more downfall. Above the level of 5850, upward rally could be seen.

Resistance: Resistance levels are 5850-5935.
Support: Support Levels are 5785-5760.

Nifty Futures Trading Tips- 

Sell Nifty futures below 5789 TG-5760-5735 SL-5840

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