Nifty Tips for Tomorrow (7th April ’11)
Markets succumbed to selling pressure after the sharp rally seen in the past two weeks as investors cashed out of banking shares on concerns that higher oil prices will fuel inflation. The markets end in the red, the S&P CNX Nifty ended at 5891.75, down by 18.30 points or - 0.31 %.
After rallying in green zone for last two weeks, market today faced today the selling pressure and Nifty Index ended in the red at 5891.75 down by -.31% or 18.30 points.
The Nifty futures closed and settled finally at 5910.95, down by 21.65 points or -0.36 %. It looking bullish in the coming trading session if it manages to trade above the resistance level of 5975 else below 5870 it would be in a downward trend.
RESISTANCE: It has first resistance close to the level of 5975 & above this level the next resistance is seen near the 6075 mark.
SUPPORT: It has first support close to the level of 5870 & below this level the next support is seen near 5770 mark.
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