Nifty Today Review and Prediction for 15 April 2011

Indian markets showed an upward rally today after showing low for five sessions and ended near psychological resistance levels. All the pectoral indices ended in the green with capital goods, auto and banking stocks leading the up move. The S&P CNX Nifty closed at 5911.50, up by 140.35 or 2.42 %.

The Nifty futures closed and settled finally at 5944, up by 140.35 points or 2.42 %. It looking bullish in the coming trading session if it manages to trade above the resistance level of 5950 else below support level of 5750 it would be in a downward trend.

RESISTANCE: It has first resistance close to the level of 5950 & above this level the next resistance is seen near the 6000 mark.

SUPPORT: It has first support close to the level of 5750 & below this level the next support is seen near 5695 mark.

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NSE MARKET Review and Trading recommendation For 12 January

Nifty Future manages its strong support of 5700 level and saw a strong recovery in last hour of todays session and it ended Up flat showing great resilience in last hour of trading . It is a good sign of recovery but one should take position only after proper break out. It closed today at 5,754.10 , 8.75 Point down from the previous level (-0.15%). Support for nifty future is 5700/5670 and has resistance is at 5860/5915 levels.

RESISTANCE: It has first resistance close to the level of 5860 & above this level the next resistance is seen near the 5915 mark. 

SUPPORT: It has first support close to the level of 5700 & below this level the next support is seen near 5670 mark.

Trading Recommendation :

Buy Nifty Above  5800 TG-5850-5900

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