March 25, 2011

Nifty Pointing Upward at NSE

Nifty is opened today on strongly and showed increase in points at NSE during the day and settled with a increase of 0.77% on short covering. Nifty is increasing due to Realty, Infra and Banking shares which kept Nifty up during the day. As if one take a look on WPI   article inflation which is released on Thursday was 13.53% against 12.31% a week ago. It is seemingly expected that Nifty likely can rise further and could test 5600-5650 levels in the next few trading days. The indices of US markets showing more than a half percent gain. Nikkei showing downtrend in the market with a loss of 0.15%. Finally Nifty settled at 5524.35 up by 42.15 points

The other indices such as CNX IT closed at 6660.55 up by 0.98%. Bank Nifty closed in green at 11070.35 up by one percent today. CNX Infra ad Realty also settled up with 1.13 percent and 2.96 percent gain today.

While, Nifty future Mar contract closed at 5550.7 against previous close of 5500.25 with a premium of 28.3 points against previous day’s premium of 20 points.

The major losers in Nifty are Reliance, GAIL, Dr reddy, Cairn and Maruti. The Top gainers are TCS, ICICI Bank, Hindalco, Larsen and HDFC Bank which kept Nifty in green and settled with gain of 0.8%. The Nifty Trade Range is likley to be 5200-5700 in the next few days.
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