Nifty Tips for Tomorrow (18th April ’11)
It was a double whammy for the markets today as Infosys fourth quarter results were below analysts' estimates and inflation for the month of March surpassed the Reserve Bank of India target of 8% raising expectations of further rate hikes. The S&P CNX Nifty closed at 5824.55, down by 86.95 or 1.47 %.
The Nifty futures closed and settled finally at 5825, down by 113.10 points or 1.90 %. It looking bearish in the coming trading session if it manages to trade below the support level of 5750 else above resistance level of 5925 it would be in an upward trend.
RESISTANCE: It has first resistance close to the level of 5925 & 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.
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