Nifty For 1 July- Technical Outlook and Market Trend

The June series made a healthy and good end and Nifty Index finally succeeded to close above 5600 mark. The market started range-bound session which lasted till late afternoon and then zoomed up as traders made new buying to rollover their position from June to July series.
The Index opened up green at 5615 and finally closed at 5647.70 rallying 46.95 points (+ 0.84%). The Intraday high and low of the day were 5,606 and 5,657 respectively.

The Nifty Futures also made an up rally of 43,70 points or 0.78% and finally settled at 5647.80.
technically the market is likely to remain positive for coming trading session if it strongly trades above 5656 level while below 5560 mark Nifty is looking bearish in broad perspective.

Technical Levels-
The Support and Resistance Zone for Nifty Futures are 5608-5560 and 5656-5702 Respectively.

Nifty Intraday Tips for Tomorrow-

Buy Nifty Futures above 5656 for the targets of 5680-5708 Stoploss below 5618

Read more »

Market Today and Nifty Trend for Tuesday 7 June (Technical levels)

Indian Market Today-

The Indian Equity index today closed with moderate gains amid volatility. 

 Weak global cues and disappointing US employment data caused market to trade with negative bias. But the market managed to bounce back in the last one hour of the session following recovery in European markets as it seemed that market factored in negatives. The 50-share NSE Nifty rose just 15.30 points, to end at 5,532.05.  

The Nifty futures closed and settled finally at 5534.20 up by 10.70 points or 0.19 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5550 else below support level of 5475 it would be in a downward trend.

RESISTANCE: It has first resistance close to the level of 5550 & above this level the next resistance is seen near the 5630 mark.

SUPPORT: It has first support close to the level of 5475 & below this level the next support is seen near 5410 mark.

In banking, CNX Bank Index gained 72.65 points or 0.67 %. Amongst the banking stocks Yes Bank, Kotak Mahindra Bank and Oriental Bank of Commerce lead the row.

Bank Nifty Futures shut stop at 10831.15 up by 69.55 points or 0.65 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 10865 else below support level of 10620 it would be in a downward trend.

RESISTANCE: It has first resistance close to the level of 10865 above this level the next resistance is seen near to the level of 10950.
SUPPORT: It has first support close to the level of 10620 & below this level the next support is seen near 10430 marks.

Read more »

Nifty and Bank Nifty Suport and Resistance levels for 31 May 2011

 The Indian markets started the week with a bang where the key benchmark indices opened at their highest levels in more than a week on the back of positive Asian cues. Finally the S&P CNX NIFTY settled in the red, closing down -3 points at 5473.10 which is down 53 points from the day's high.

The Nifty futures closed and settled finally at 5467, up by 0.65 points or 0.01 %. It is looking bearish in the coming trading session if it manages to trade support level of 5410 else above resistance level of 5540 it would be in an upward trend.

RESISTANCE: It has first resistance close to the level of 5540 & above this level the next resistance is seen near the 5630 mark.

SUPPORT: It has first support close to the level of 5410 & below this level the next support is seen near 5320 mark

In banking, CNX Bank Index gained 58.80 points or 0.55 %. Amongst the banking stocks Karnataka Bank, Union Bank of India and Central Bank of India lead the row.

Bank Nifty Futures shut stop at 10702 up by 63.45 points or 0.60 %. It is looking bearish in the coming trading session if it manages to trade support level of 10620 else above resistance level of 10750 it would be in an upward trend.

RESISTANCE: It has first resistance close to the level of 10750 above this level the next resistance is seen near to the level of 10980.
SUPPORT: It has first support close to the level of 10620 & below this level the next support is seen near 10430 marks.

Read more »

Intraday Bank Nifty Levels (Tuesday 24 May)

In banking, CNX Bank Index gained -295.85 points or -2.77 %. Amongst the banking stocks Canara Bank, Central Bank and ICICI Bank lead the row.

Bank Nifty Futures shut stop at 10330 down by -336.25 points or -3.15 %. It is looking bearish in the coming trading session if it manages to trade support level of 10260 else above resistance level of 10600 it would be in an upward trend.

RESISTANCE: It has first resistance close to the level of 10600 above this level the next resistance is seen near to the level of 10750.
SUPPORT: It has first support close to the level of 10260 & below this level the next support is seen near 10000 marks.

Read more »

Nifty Technical Levels for 23 May 2011

The Nifty index opened in the green, tracking positive Asian peers and crept higher led by gains in front line stocks Larsen & Tourbo, HDFC, ICICI Bank and HDFC Bank. The S&P CNX Nifty ended at 5486.35, up 58.25 points or 1.07 %.
The Nifty futures closed and settled finally at 5484.60, up by 59.80 points or 1.10 %. It is looking bullish in the coming trading session if it manages to trade below the support level of 5385 else above resistance level of 5540 it would be in an upward trend.

RESISTANCE: It has first resistance close to the level of 5540 & above this level the next resistance is seen near the 5625 mark.
SUPPORT: It has first support close to the level of 5385 & below this level the next support is seen near 5310 mark.

Read more »

Bank Nifty Futures Today And Prediction for Tomorrow

CNX Bank Index lost -171.60 points ( -1.55 %) . Amongst the banking stocks Allahabad Bank, Yes Bank and ING Vysya Bank lead the row.

HDFC, ICICI Bank, SBI, HDFC Bank shares Caused the Bank Nifty to batter down.

Bank Nifty Futures shut stop at 10875.30 down by 164.25 points or -1.55 % It is looking bearish in the coming trading session if it manages to trade below the support level of 10780 else above resistance level of 11120 it would be in an upward trend.

RESISTANCE: It has first resistance close to the level of 11120 above this level the next resistance is seen near to the level of 11240.
SUPPORT: It has first support close to the level of 10780& below this level the next support is seen near 10690 marks.

Read more »

Bank Nifty For 1 April 2011 - Intraday Levels

 CNX Bank Index lost 59.75 points or -0.51 %. Amongst the banking stocks Union Bank of India, Yes Bank and State Bank of India lead the row.

Bank Nifty Futures shut stop at 11705.05 down -84.70 points or 0.72 %.It is looking bullish in the coming trading session if it manages to trade above the resistance level of 11900 else below 11580 it would be in a downward trend.

RESISTANCE: It has first resistance close to the level of 11900 above this level the next resistance is seen near to the level of 12050.

SUPPORT: It has first support close to the level of 11580 & below this level the next support is seen near 11330 marks.

Read more »

Nifty For 23 August '10 - Technical Levels and Trading Tips

Nifty today also managed to give a closing above its 5500 mark at 5530 and it will continue to face resistance at 5500 level. Decisive closing above 5500 may lead it towards the levels of 5600 to 5610 in near run. The immediate intraday support for Nifty Future seems to be at the levels of 5440 to 5450. Decisive closing below this support zone may slip it till the lower levels of 5400 and 5350 in near run. For trading we already recommended buy on dips for the targets of 5500, 5550. Those who like to initiate new long positions in Nifty Future, they might do above 5500 for the target of 5600 with a Stop Loss around 5460.

Read more »