Nifty Tips and Trend for Tomorrow (3rd June '11)
Indices failed to break into the positive terrain and slipped below the intermediate support levels as negative cues from European peers hurt sentiments. Most of the sectoral indices, barring defensives like FMCG and pharmaceuticals, were in the red. The S&P CNX NIFTY continuing its northward journey and closing the day down -41.65 points or -0.74 % at 5550.35.
The Nifty futures closed and settled finally at 5563, down by -27.45 points or -0.49 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5580 else below support level of 5520 it would be in a downward trend.
RESISTANCE: It has first resistance close to the level of 5580 & above this level the next resistance is seen near the 5630 mark.
SUPPORT: It has first support close to the level of 5520 & below this level the next support is seen near 5480 mark.
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