Nifty Tips and Forecast for Tomorrow (8th August '11)
Markets recovered partially in late noon trades, but ended lower for the fourth consecutive day following global sell-off on US growth and sovereign debt concerns. The Nifty closed at 5,211, down 120 points and the Sensex ended at 17,336, down 357 points (provisional).
Nifty Futures shut stop at 5220 down by -117.20 or -2.20 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5110 else above resistance level of 5240 it would be in an upward trend.
RESISTANCE: It has first resistance close to the level of 5240 & above this level the next resistance is seen near the 5440 mark.
SUPPORT: It has first support close to the level of 5110 & below this level the next support is seen near 5000 mark.
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