Nifty Intraday Position For 5th May 2011

After a brief stint in the green, the Nifty has slipped into the negative on the back of selling pressure seen in IT and Auto space. The NSE benchmark index S&P CNX Nifty, down -28.10 points or -0.50 % at 5537.15.

The Nifty futures closed and settled finally at 5536, down by -32.70 or -0.59 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5510 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 5726 mark.

SUPPORT: It has first support close to the level of 5510 & below this level the next support is seen near 5415 mark.

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NIifty Position For 3 May 2011

The NSE benchmark index S&P CNX Nifty, down -48.20 points or -0.84 % at 5704.30, on the first trading day of the week on the back of selling pressure witnessed in the banking and consumer durables space.

The Nifty futures closed and settled finally at 5725.40, down by 28.40 or -0.49 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5660 else above resistance level of 5790 it would be in an upward trend.

RESISTANCE: It has first resistance close to the level of 5790 & above this level the next resistance is seen near the 5950 mark.
SUPPORT: It has first support close to the level of 5660 & below this level the next support is seen near 5570 mark.

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Nifty Intraday Technical Outlook for Tuesday 29 March

Asian stocks fell, the domestic markets opened on a soft note, with IT stocks weighing down on the bourses, after two consecutive sessions of gains the previous week. Shrugging off weak Asian cues, the domestic markets logged gains for the sixth consecutive day. The S&P CNX Nifty closed at 5687.25, up 33 points or +0.58 %.

The Nifty futures closed and settled finally at 5699.65, up by 18.95 points or 0.33 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5730 else below 5660 it would be in a downward trend.

RESISTANCE: It has first resistance close to the level of 5730 & above this level the next resistance is seen near the 5796 mark.
SUPPORT: It has first support close to the level of 5660 & below this level the next support is seen near 5570 mark.

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Nifty Today Review and Trend for 11 February 2011

Market had a volatile trading session with the trading range of 70-80 points, intraday pullback attributed to the heartening decline in food inflation. The S&P CNX Nifty shut shop at 5225.80, down 27 points or –0.35 %. The Indian VIX which is currently at 24.82 and it was down by 1.66 % % or -0.42 points indicates that the market will continue to volatile in the short term.
NIFTY Futures closed at 10095, down 35.95 or -0.35 %. It is looking bearish in the coming trading session if it manages to break the support level of 5211 else above 5300 it would be in a bullish trend.

RESISTANCE: It has first resistance close to the level of 5300 & above this level the next resistance is seen near the 5350 mark.
SUPPORT: It has first support close to the level of 5211 & below this level the next support is seen near 5138 mark.

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Nifty Futures Intraday Levels for 1st February 2011

It was a volatile day for the Dalal Street. The equity market moved and remained in the range of 5550-5530 due to the lack of cues but short coverings helped nifty futures to pare losses in the half an hour of trade and end moderately lower. Nifty Futures closed at 5524.40, down 6 points or 0.22 %. Nifty is looking bearish in the coming trading session if it manages to trade and consolidate below the support level of 5350 else above 5625 it would be bullish in trend. One can adopt the strategy of sell at higher level.

Resistance: it has first resistance close to the level of 5560 & after it may face the next resistance close to the level of 5625

Support: it has first support close to the level of 5410 & after it may get the next support close to the level of 5350.

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Intraday Nifty Levels for Tomorrow

Nifty Future today opened higher traded and saw a smart recovery in earlier session but still managed its range of 5755-5632 and it closed in flat note. It can take up moves in coming trading session if it manages to sustain above 5760 level. But the credit policy due tomorrow can bring some volatility in it. The monetary policy, RBI going to announce tomorrow will decide the sentiments of the market. Resistance for Nifty Future is 5760/5870 and it has support is at 5668/5625 levels.

RESISTANCE: It has first resistance close to the level of 5760 & above this level the next resistance is seen near the 5870 mark.

SUPPORT: It has first support close to the level of 5668 & below this level the next support is seen near 5525 mark.


Trading Recommendations- Buy Nifty above 5757 TGT-5780-5800-5820 SL-5690

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Bank Nifty Levels for Thursday 20th Januray 2011

  Bank Nifty was also was not able to sustain at higher level and closed near to its days low. It may face some more selling in coming trading session. One should adopt the strategy of sell at higher level. Support for Bank Nifty is at 10530/10385 .Resistance is at 10745/10955 levels.  

RESISTANCE: It has first resistance close to the level of 10745 & above this level the next resistance is seen near the 10955 mark. 

SUPPORT: It has first support close to the level of 10530 & below this level the next support is seen near 10385 marks.  

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Nifty Future Tips For 7th january 2011

Nifty future is still trading on weak note. We can see some more correction in coming trading session. One should adopt a strategy to sell at higher levels. Support for Nifty future is at 6000/5966 and resistance is at 6150/6208 levels.

RESISTANCE: It has first resistance close to the level of 6150 & above this level the next resistance is seen near the 6208 mark.

SUPPORT: It has first support close to the level of 6000 & below this level the next support is seen near 5966 mark.

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Nifty Futures- Technical Levels For Thursday 25 November 2010

Nifty future as expected saw a sharp fall below 5930 levels and closed near the days low near 5890 levels. Nifty future will face resistance at 5990 and 6060 levels. We recommend selling on higher levels till it closes below 6000 levels support for nifty future is at 5825/5760 levels and has resistance at 5990/6060 levels.

Resistance: It has first resistance close to the level of 5953 & after it may face the next resistance close to the level of 6046.

Support: It has first support close to the level of 5800 & after it may get the next support close to the level of 5740.

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Nifty Prediction For Tuesday 14 September 2010

Nifty witnessed the strong positive session today and also made the strong closing above 5750. Now the next resistance for nifty future seems close to the level of 5850. Decisive closing above this resistance may take up the nifty future for the level of 6000 in near run. In the downside 5600 to 5620 may be the short term support zone for nifty future. Closing below this support zone may slip it till the lower levels of 5540 to 5550 in near run. For intra day trading we recommend long position in nifty future from the current levels for the target of 5850 with the intra day SL around 5710.

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