Nifty Tips and Forecast for Tomorrow (10th August '11)
Volatility ruled the roost today, India's volatility index hit an all-time high of 34.31 as global uncertainty weighed on investor’s mind.
The US markets had crashed in trades on Monday following the S&P downgrade. The Dow Jones Industrial Average slumped 5.5% to 10,810. The NASDAQ plunged almost 7% to 2,358, and the S&P index cracked 6.7% at 1,119. The S&P CNX Nifty 5072.85 down by -45.65 or -0.89 %.
Nifty Futures shut stop at 5083.40 down by -42.80 or -2.83 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 4930 else above resistance level of 5210 it would be in an upward trend.
RESISTANCE: It has first resistance close to the level of 5210 & above this level the next resistance is seen near the 5560 mark.
SUPPORT: It has first support close to the level of 4930 & below this level the next support is seen near 4780 mark.
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