Nifty Tips and Forecast for Tomorrow (24th June '11)
Nifty opened lower following weak global cues after Ben Bernanke said that the US economy was weak and interest rates would remain unchanged for an extended period. The index touched a low of 5,252 in opening trades and quickly changed course on bargain buying in frontline shares such as Reliance Industries, Infosys and ITC.The S&P CNX Nifty finally closed at 5320, up 41.70 points or 0.79 %.
The Nifty futures closed and settled finally at 5319 up by 35.75 points or 0.68 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5260 else above resistance level of 5330 it would be in an upward trend.
RESISTANCE: It has first resistance close to the level of 5340 & above this level the next resistance is seen near the 5380 mark.
SUPPORT: It has first support close to the level of 5250 & below this level the next support is seen near 5175 mark.
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