MARKET TECHNICAL VIEW FOR TOMORROW (06/04/11)

Market Strategic View on Nifty (6th April ’11)-

The market ends flat today and make +1.60 positive point, the last trading session was the best for the traders and today the market closed with 5910.05.
So the tomorrow's condition will decide the market statistics.

The Nifty futures closed and settled finally at 5926, up by 17 points or 0.29 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 6000 else below 5870 it would be in a downward trend.

RESISTANCE: It has first resistance close to the level of 6000 & above this level the next resistance is seen near the 6072 mark.

SUPPORT: It has first support close to the level of 5870 & below this level the next support is seen near 5770 mark.

Market View on Bank Nifty (6th April ’11)-

In banking, CNX Bank Index lost -5.40 points or -0.05 %. Amongst the banking stocks Vijaya Bank, Uco Bank and Syndicate Bank lead the row.

Bank Nifty Futures shut stop at 11845.10 up by +39.85 points or +0.34 %.It is looking bullish in the coming trading session if it manages to trade above the resistance level of 11956 else below 11684 it would be in a downward trend.

RESISTANCE: It has first resistance close to the level of 11956 above this level the next resistance is seen near to the level of 12050.

SUPPORT: It has first support close to the level of 11728 & below this level the next support is seen near 11580 marks.