Showing posts with label Nifty Trend for Friday 6 May 2011. Show all posts
Showing posts with label Nifty Trend for Friday 6 May 2011. Show all posts
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In banking, CNX Bank Index lost 183.25 points or -1.68 %. Amongst the banking stocks Punjab National Bank, ING Vysya Bank and Vijaya Bank lead the row.
Bank Nifty Futures shut stop at 10748.45 down by 79.65 % points or 1.44 % It is looking bearish in the coming trading session if it manages to trade below the support level of 10690 else above resistance level of 11010 it would be in a upward trend.
It has resistance close to the level of 11010 above this level the next resistance near to the level of 11380. It has support close to the level of 10690 & below this level the next support near 10520 marks.


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Markets were choppy for the most part of the day as investors stayed to the sidelines due to lack of direction, but heavy selling during the afternoon trades front liners- ICICI Bank, ITC,  HDFC Bank  and Bharti Airtel dragged the NSE benchmark index S&P CNX Nifty, down -77.30 points or -1.40 % at 5458.40.
The Nifty futures closed and settled finally at 5458.40, down by -79.65 or -1.44 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5440 else above resistance level of 5595 it would be in an upward trend.
It has resistance close to the level of 5595 & above this level the next resistance near the 5730 mark. It has support close to the level of 5440 & below this level the next support near 5350 mark.