Nifty Levels For Tomorrow- Intraday Tips

A recovery could be seen in Indian markets for last couple of days and Today also Nifty made a handsome gain of 1% to close above 5420 level. The market made a closing near its day high of 5424.85. According the the experts, FIIs  investment has increased in last few days which have supported the market to trade in greener zone.

If market continues to trade this way, FMCG and infra stocks may see good upside and would not take time to touch 5500-5550 level however a profit booking can be seen after that.

Technically Support for nifty tomorrow is 5378-5340 while above 5438, nifty may go up to 5470-5500 level.

For Tomorrow, Intraday traders can buy Lupin above 573.50 for the targets of 578-583.50-585 level

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Nifty Trend & Share Market Outlook

Indian equity markets traded well today and all the indices witnessed significant gains.

As we expected in our Nifty Report today that market might turn out to be positive today, the same happened. After spending the whole last week trading sideways, BSE's Index closed at 17620 after climbing 227 points while Nifty gained more tha 70 points to close at 5345 level. Strong European cues supported the market and Indian share markets climbed 1.3% after the rally seen in European markets.

In domestic market, Bank stocks boomed today with SBI and ICICI bank each gaining more than 1% and HDFC up by 2%. ITC an Larsen & Toubro climbed 2% each while top commercial vehicle maker Tata Motors and largest car manufacturer Maruti Suzuki advanced 3% each.

The market is expected to ride the bull tomorrow also and we can expect Nifty to reach 5400 soon.

Technically, If Nifty Tomorrow sustains above 5400, we can expect this positiveness to persist for the day long. 5300 is the immediate support level for spot nifty.

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Market Updates Today and Intraday Levels for 15 June

Equities ended a lackluster session on a positive note as the market discounted higher than expected inflation. WPI May inflation rose to 9.06 per cent against 8.66 per cent in April. National Stock Exchange's Nifty ended at 5500.50, up 17.70 points or 0.32 % per cent. The broader index touched a high of 5520.15 and low of 5484.20 intraday.

The Nifty futures closed and settled finally at 5516.10 up by 17.60 points or 0.32 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5490 else above resistance level of 5545 it would be in an upward trend.

RESISTANCE: It has first resistance close to the level of 5545 & above this level the next resistance is seen near the 5630 mark.

SUPPORT: It has first support close to the level of 5490 & below this level the next support is seen near 5310 mark.

In banking, CNX Bank Index gained 86.45 points or 0.81 %. Amongst the banking stocks Axis Bank, Central Bank and ICICI Bank lead the row.

Bank Nifty Futures shut stop at 10824.30 up by 91.90 points or 0.86 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 10600 else above resistance level of 10850 it would be in an upward trend.

RESISTANCE: It has first resistance close to the level of 10850 above this level the next resistance is seen near to the level of 10990.
SUPPORT: It has first support close to the level of 10760 & below this level the next support is seen near 10600 marks

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Nifty Tips For Dec 29, 2010

Nifty future moved under a tight range in last trading session and ended with flat and negative bias. Nifty future could not manages to sustain at higher level. If Nifty future break 5950 levels it may seen more correction in it. Support for nifty future is at 5948/5900 and resistance is at 6062/6148 levels. One should adopted a strategy of sell at higher level.

RESISTANCE: It has first resistance close to the level of 6062 & above this level the next resistance is seen near the 6148 mark.

SUPPORT: It has first support close to the level of 5948 & below this level the next support is seen near 5900 mark.

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