Share Market Trend and Recommendation for Tomorrow
Nifty continue the up trend today & in the end made the strong closing. The next key resistance for it seems to be at the level of 5500.
Nifty continue the up trend today & in the end made the strong closing. The next key resistance for it seems to be at the level of 5500.
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Technical View
We all watched the Breaking News on News channels and web-sites. Now the reality is that 92% of the European banks have passed the stress test.
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Nifty 50 Tips:-
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SELL SCI only if it trades below 156.30 for the Targets of 154.20 & 153.70, with strict Stop Loss of 158
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Nifty may come down beyond 5400
Nifty trend for today:-
Market Today will open flat and remain in consolidation mode in the first half. Today market lacks any trigger to move in either direction. Today market will be directionless in the 1st half with resistance at 5320 and support at 5240. If it sustains above 5320 for some time bear will run for cover giving quick fire return in nifty. So be alert today. Opening in European market will provide cue for the further direction today. Today Midcap space is the safest and most profitable.
Nifty trading Strategy For Next week June 21 to June 26, 2010
Nifty faced the resistance close to the higher level of 5300 today. It was overall the range bound movement with negative bias. Now technically still we are expecting that nifty future is looking strong due to overall holdings of the support levels.
If you read our premarket outlook article of today, we have clearly mentioned that: