Technical View on Nifty Future (11th May '11)
The markets closed flat for the second consecutive day with bouts of volatility witnessed throughout the day. The S&P CNX Nifty closed down -9.85 points at 5541.25, down 51 points from the day’s high.
The Nifty futures closed and settled finally at 5545.80, down by 12.85 or -0.23 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5500 else above resistance level of 5595 it would be in an upward trend.
RESISTANCE: It has first resistance close to the level of 5605 & above this level the next resistance is seen near the 5730 mark.
SUPPORT: It has first support close to the level of 5500 & below this level the next support is seen near 5440 mark.
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