Nifty Tips and Trend for Tomorrow (27th July '11)
Indian markets ended sharply lower as higher-than-expected hike in key interest rates by the Reserve Bank of India spooked sentiments. Rate sensitive were beaten down badly on concerns that rising interest rate would impact business adversely. The Spot Nifty is now at 5574.85 – down 105.45 points or -1.86 %.
Nifty Futures shut stop at 5577.30 down by -113.35 or -1.99 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5555 else above resistance level of 5710 it would be in an upward trend.
RESISTANCE: It has first resistance close to the level of 5710 & above this level the next resistance is seen near the 5790 mark.
SUPPORT: It has first support close to the level of 5555 & below this level the next support is seen near 5490 mark.
Posts
