Market Outlook for 15th April '11

Here are the analyst report for 15 th April 11 for Nifty and Bank Nifty-

Market outlook for Nifty (15th April ’11)

Today the market made its own record, In NSE Nifty jumped up with the 125.80 points or 2.17 % and settel down with 5911.50. The Market has seen bullish after the five trading sessions and ended near psychological resistance levels. All the pectoral indices ended in the green with capital goods, auto and banking stocks leading the up move. The S&P CNX Nifty closed at 5911.50, up by 140.35 or 2.42 %.

The Nifty futures closed and settled finally at 5944, up by 140.35 points or 2.42 %. It looking bullish in the coming trading session if it manages to trade above the resistance level of 5950 else below support level of 5750 it would be in a downward trend.

RESISTANCE: It has first resistance close to the level of 5950 & above this level the next resistance is seen near the 6000 mark.

SUPPORT: It has first support close to the level of 5750 & below this level the next support is seen near 5695 mark.

Market outlook for Bank Nifty (15th April ’11)

In banking, CNX Bank Index gained 273.55 points or 2.35 %. Amongst the banking stocks City Union Bank, Yes Bank and HDFC Bank lead the row.

Bank Nifty Futures shut stop at 11903.10 up by 134.45 points or +2.32 %.It is looking bullish in the coming trading session if it manages to trade above the resistance level of 11960 else below 11520 it would be in a downward 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 11520 & below this level the next support is seen near 11335 marks.