NIFTY Future Tips for 9 November 2010

Nifty future opened with a gap up near 6340-6350 levels but could not sustain at higher levels and has closed near 6300. Now on the upside 6340-6350 will act as a major hurdle and support at 6265 and 6225 levels. For the next trading session we recommend selling on higher levels with strict stop loss of 6355 levels.

RESISTANCE: IT HAS FIRST RESISTANCE CLOSE TO THE LEVEL OF 6350 & AFTER IT MAY FACE THE NEXT RESISTANCE CLOSE TO THE LEVEL OF 6400

SUPPORT: IT HAS FIRST SUPPORT CLOSE TO THE LEVEL OF 6265 & AFTER IT MAY GET THE NEXT SUPPORT CLOSE TO THE LEVEL OF 6225.

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Nifty Sensex Technical View with Trading Recommendation For 4th July

Nifty witnessed a range bound movement today and in the end closed marginally in green. Overall it was a positive consolidation for the market & the up trend remain intact for a while. The next crucial hurdle for Nifty Futures seems to be at the level of 5500. Closing above this resistance may take up it till the levels of 5600 to 5610 in near run. The immediate support for it seems to be at the levels of 5400 to 5405. After it Nifty may get the short term support close to the level of 5350.

Sensex is holding the higher levels, today it was overall the positive consolidation for Sensex. The next resistance for it seems to be in the zone of 18310 to 18340. Decisive closing above this resistance zone may lead it towards the level of 18800 in near run. The immediate support for it seems to be around the levels of 17820 to 17850.

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