Today's Market Updates and Nifty Prediction For Tomorrow

Benchmarks ended choppy session on a positive due to lack of buying conviction amongst investors in absence of any trigger to drive the market. Losses in FMCG, realty and metals were offset by gains in capital goods, banks and pharmaceutical stocks. The S&P CNX Nifty ended at 5394.85, up 8.30 points or 0.15 %.
The Nifty futures closed and settled finally at 5387.85, up by 4.40 points or 0.08 %. It is looking bearish in the coming trading session if it manages to trade support level of 5350 else above resistance level of 5440 it would be in an upward trend.

RESISTANCE: It has first resistance close to the level of 5440 & above this level the next resistance is seen near the 5540 mark.  

SUPPORT: It has first support close to the level of 5350 & below this level the next support is seen near 5230 mark.

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Nifty Position and Intraday Levels for 22 February 2011

After a sell off on Friday market staged a smart recovery and closed above the 5500 market. The S&P CNX NIFTY closed at 5518.60, up by 59.65 points or 1.09 %. The Indian VIX which is currently at 24.91 and it was up by 0.73 points or 3.01 %. It indicates that the market will continue to volatile in the short term.

NIFTY Futures closed at 5531.05, up by 77.40 points or 1.42 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5547 else below 5400 it would be in a bearish trend.

RESISTANCE: It has first resistance close to the level of 5547 & above this level the next resistance is seen near the 5600 mark.

SUPPORT: It has first support close to the level of 5400 & below this level the next support is seen near 5340 mark.

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NIFTY ALERT for 25/11/2009

NIFTY 5170 is crucial point, looking in upside consolidation; one should take long position in it with SL of 5045.

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