Nifty Tips for Tomorrow (2nd May ’11)
Markets are set to end the weak on a negative note due to weakness in financial shares as investors turned jittery on expectations of 25 bps rate hike by Reserve Bank of India next week. The NSE benchmark index S&P CNX Nifty, down -35.95 points or -0.62 % at 5749.50.
The Nifty futures closed and settled finally at 5753.80, down by -56.60 or -0.97 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5695 else above resistance level of 5825 it would be in an upward trend.
RESISTANCE: It has first resistance close to the level of 5825 & above this level the next resistance is seen near the 5950 mark.
SUPPORT: It has first support close to the level of 5695 & below this level the next support is seen near 5570 mark.
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