Nifty Tips and Trend for Tomorrow (2nd August '11)
The markets today reversed its four-day losing streak. The Nifty touched a high of 5557.10 - up over 60 points - in early trades on the back of positive news flow from the overseas. US President, Barack Obama announced a framework debt-limit deal ahead of Tuesday's deadline. This will raise the US borrowing limit and help avoid a default.
Nifty Futures shut stop at 5528.55 up by 40.50 or 0.74 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5590 else below support level of 5440 it would be in a downward trend.
RESISTANCE: It has first resistance close to the level of 5590 & above this level the next resistance is seen near the 5710 mark.
SUPPORT: It has first support close to the level of 5440 & below this level the next support is seen near 5330 mark.
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