Showing posts with label Nifty Trend for Today. Show all posts
Showing posts with label Nifty Trend for Today. Show all posts
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Yesterday, the markets remained volatile and Nifty closed below 4,749. For today, the markets are expected to open on a flat note and will take cues from global markets and will remain in sideway's, a break above 4,749 or below 4,658 will give a trend to the movement of the market. The traders are advised to trade long in Nifty only above 4,749 levels for targets around 4,800 levels with a strict stop loss at 4,719, short Nifty if it fails to cross 4,800 levels for targets of 4,749 with a strict stop loss at 4,719.
Positional Support for NIFTY 4702 - 4680.
Positional Resistance for NIFTY 4782 4836 4921 4940 4948 4964.

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The markets are expected to open in green on positive from Asian markets. Yesterday, NSE Nifty closed around 4,636 up by 12.40 points or by 0.27% whereas, BSE sensex ended around 15,517.920 up by 63 points or by 0.40%. Today, flat positive opening is expected. For today, Nifty Intraday support levels are around 4,620 - 4,600 - 4,584 levels and resistance levels are around 4,686.

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Yesterday, Nifty continued the weakness and closed near 4646. Therefore, for today the first resistance for nifty is at 4665-69 levels, crossing theses levels it will find next resistance ranges around 4687-92, 4715-20, 4768-73, 4827-31, 4879-74, 4919-22 levels. On downside first support is at 4629-25 level. Next supports are at 4608-03, 4581-76, 4530-26, 4486-83, 4456-51, 4436-31, 4401-396 level. Again nifty closed below 4700 signaling the underlying bear force. A move below 4600 can put some more pressure to market unless a strong move above 4686 better stay from long side even for intraday.



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On Friday, Nifty Futures settled around 4625 which was down by -131.55 points or -2.77%. In today's trading session it is expected to be bearish if it manages to trade below the support level of 4530 else above the resistance level of 4850 it would be in an upward trend.
Support: 4530 - 4340
Resistance: 4850 - 4920

On Friday, Bank Nifty Futures settled around 8103 which was down by -347.15 points or -4.11 %. In today's trading session it is expected to be bearish if it manages to trade below the support level of 8090 else above the resistance level of 8690 it would be in an upward trend.
Support: 8090 - 7800
Resistance: 8690 - 8970.

 

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Today Nifty is expected to trade in the range of 4,785 & 4,835 in the upper side and in the range of 4,715 & 4,655 in the lower side. Yesterday (Thursday) the markets remained volatile and recovered significantly in the last trading hour to close with only moderate declines. Focus for today will be on the RBI`s mid-quarter monetary policy review. After weak IIP numbers and high inflation data, it is widely expected that RBI could soften its stance and could look forward toward monetary easing now or in the near future.