Saturday, May 14, 2011

16 MAY NIFTY VIEW FOR MONDAY NEXT WEEK

The S&P CNX Nifty closed down -78.90 points or -1.40 % to 5586.15.

The Nifty futures

closed and settled finally at 5486.60, down by -78.05 or -1.40 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5440 above the resistance level of 5580 it would be in an upward trend.

RESISTANCE: It has first resistance close to the level of 5580 & above this level the next resistance is seen near the 5730 mark.
SUPPORT: It has first support close to the level of 5440 & below this level the next support is seen near 5350 mark.

CNX Bank Index lost -171.60 points or -1.55 % on yesterday's trading session. Allahabad Bank, ING Vysya Bank and yes bank were the top gainers in Bank Shares.

Bank Nifty

yesterday closed at 10875.30 down by 164.25 points or -1.55 %
.It is still seems to be bearish in near term if it is able to sustain below the support level of 10780.

Above resistance level of 11120 it might catch the rally.

RESISTANCE: It has first resistance close to the level of 11120 above this level the next resistance is seen near to the level of 11240.
SUPPORT: It has first support close to the level of 10780& below this level the next support is seen near 10690 marks..
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