March 21, 2011

Nifty Likely to Continue its Falls at NSE

Nifty market opened up today with a steady fall in the morning session at NSE of the day because of selling pressure. The last traded price at Nifty is 5359.05 which down by just 14.65 points against previous close of 5373.7.

The sentiments for the Nifty market is seeming bearish today. According to todays Nifty market the Intraday traders  are advised to sell on higher side because intraday trend of Nifty is seen sideways to bearish and likely to extend last week’s losses.

The Intraday range for Nifty is seen at 5300-5450. The Nifty support is seen at 5300 and 5240 levels. While resistance levels for Nifty are seen at 5400 and 5450.

Short term range for Nifty is seen at 5300-5600. In the near term, Nifty is likely to consolidate at 5200-5750. On Friday Nifty opened strong but fell during the day and attain with a loss of 1.34 percent. 

 US Nifty markets settled up with 0.71 percent gain on Friday. Majority of the European indices also settled in green on Friday. At present, Asian indices are trading with positive sentiments. Nikkei is trading up with 2.72 percent gain while Shanghai is also trading in green at present. Hang Seng is trading up with gain of 1.23 percent.

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