Here are the Technical view on Nifty and Bank Nifty Futures-
Market outlook on Nifty (13th April ’11)
Industrial growth going very slow at 3.6% in February 2011 as compared to an expansion of 15.1% in the year-ago period and rising crude prices,silver, gold prices which may result in a fiscal strain on the economy, exerted pressure on the bourses, as the S&P CNX Nifty, ended almost at the day’s lows of 5,785 with 56.30 negetive points respectively.
The Nifty futures closed and settled finally at 5798, down by -56.90 points or -0.97 %. It looking bearish in the coming trading session if it manages to trade below the support level of 5795 else above resistance level of 5850 it would be in an upward trend.
RESISTANCE: It has first resistance close to the level of 5850 & above this level the next resistance is seen near the 5935 mark.
SUPPORT: It has first support close to the level of 5795 & below this level the next support is seen near 5770 mark.
Market outlook on Bank Nifty (13th April ’11)
In banking, CNX Bank Index lost -74.45 points or 0.65 %. Amongst the banking stocks United Bank of India, Axis Bank and HDFC Bank lead the row.
Bank Nifty Futures shut stop at 11620.10 down by -91.50 points or 0.78 %.It is looking bearish in the coming trading session if it manages to trade below the support level of 11580 else above 11960 it would might be in an upward trend.
RESISTANCE: It has first resistance close to the level of 11960 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 11335 marks.
Do you like this article? Share It!
My Blog List
-
-
9th September Free Stock Tips: Stock in News7 years ago
