Thursday, February 09, 2012

Indian Share Market Tips for Today | Nifty Futures Technical Overview

Intraday Share Market Tips for Today
-BUY Unitech Ltd. Short Term Target 33 Stop Loss 27.5.
-BUY Coal India Ltd. Intraday Target 336.5 Stop Loss 331.1.
-SELL Sintex Industries Ltd.Intraday Target 80 Stop Loss 102....MORE TIPS>>
The Indian market opens for trade this morning on a negative note on the back of soft global cues. Earlier, the US markets ended marginally in the green with the Dow up 5 and Nasdaq up 11 odd points while Asia is in the red at this hour. Sensex is trading at 17669, down 38 points from its previous close, and Nifty is at 5357, down 10 points. CNX Midcap index is down 0.02% and BSE Smallcap index is up 0.3%. The market breadth is positive with advances at 286 against declines of 266 on the NSE.
Nifty Futures Technical Overview for Today
Markets closed higher on Wednesday, amid a volatile trading session, led by index heavyweight RIL and Infosys. The 30-share Sensex ended at 17707.32 up 84.87 points or 0.48 % and the 50-share Nifty ended at 5368.15 up by 33 points or 0.62 %. The Sensex and the Nifty reached an intra-day high of 17,809.21 levels and 5,396.90 mark, respectively. On the global front, Asian markets advanced after Toyota Motor raised its profit forecast and as Greece's government edged closer to securing a bailout package. Strait Times, Shanghai Composite Nikkei, Kospi, Hang Seng and Taiwan Index gained between 0.3 - 1 %.
Resistance – 5420, 5330 Support - 5560, 5260
Nifty Futures shut stop at 5388.50 up by 33.30 points or 0.62 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5450 else below support level of 5330 it would be in a downward trend.
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