Nifty Tips and Forecast for the Day (20th May '11)
Markets edged higher in the afternoon session and ended the day on a positive note after engineering conglomerate L&T (Larsen & Tourbo) reported 17% rise in the fourth quarter profit. The S&P CNX Nifty ended at 5,428.10, up 7.50 points or 0.14 %.
The Nifty futures closed and settled finally at 5424.80, up by 0.75 points or 0.01 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5385 else above resistance level of 5465 it would be in an upward trend.
RESISTANCE: It has first resistance close to the level of 5465 & above this level the next resistance is seen near the 5540 mark.
SUPPORT: It has first support close to the level of 5385 & below this level the next support is seen near 5310 mark.
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