Nifty Predictions For 16 May 2011:-
Nifty (Spot) Intraday Trend Suppor & Resistance Levels:
It was flat week for the markets, with selective buying across all sectors. There were sharp falls in interest rate sensitive sectors like banking and auto, with the exception of realty, which made significant gains. Both the Sensex and Nifty closed flat.
Top gainers of BSE were Castriol India, Opto Circuits India, Glaxo SmithKline Consumer Goods. Top gainers in NSE were Dr. Reddy's Lab, Axis Bank,JP Associates,ITC,Hero Honda Motors.
It is predicted that Nifty may trade in down trend.
Resistance : Its first resistance level may be at 5710 and above this level it could test the resistance level near the 5776 points.
Support : Its first support level may be at 5649 and below this level it could have support level near 5589 points.
Support : Its first support level may be at 5649 and below this level it could have support level near 5589 points.
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