May 31, 2011

Nifty, NSE/BSE Technical Analysis 31 May

The Indian Stock market for nifty ended down 0.10% which made nifty down by 3 pts and  Sensex down 34 pts. Hindalco Industries performance is of consolidation at nifty due to which the net profit came down by 37% at Rs 2456 Cr. European markets were in green with DAX leading, Dow future was up 10 pts. Indian equity market ended flat after Friday’s gains due to completely directionless trade for the market with low volume. Nifty lost trivial 3 pts to end at 5473 for the day while.


Nifty Technical View 31 May:
R3: 5581  R2: 5532  R1: 5503  
Pivot: 5481
S1: 5452  S2: 5430  S3: 5381
Trend: Consolidate sell on High.


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