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European shares pared back earlier gains to trade flat in thin trade on Monday with investors once again preoccupied by problems surrounding Spain's banks. As USA markets are closed we may follow European and Asian markets, and current scenario indicating flat to negative opening. One should not panic if it happens as we already expected in Afternoon post that we expect a consolidation in tomorrow session and may have some correction before Expiry. 4950 may work as good support now and below that 4890 is major support. One should think for upside with these supports, we expect 5050-5100 levels in near future. Till 17th June, the day when re-poll in Greece will happen nothing major correction expected as well on 22nd June is meet of Euro zone nations where Greece issue will be decided.
Tomorrow we expect a day with consolidation and until 4950 and 4890 holds one should not panic.
Important levels for Tomorrow in SPOT NIFTY mentioned below-
RESISTANCE: 5000, 5025, 5050
SUPPORT: 4950, 4925, 4890
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USD/INR (INR=X) -CCY55.5650 0.3787(0.6863%) 9:30AMCOMMODITY CALLS FOR TODAY's MCX TRADING
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