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Tuesday, February 28, 2012

Nifty Outlook-Tips Range Today 28 Feb

Nifty And Bank Nifty Outlook:Tips Trend Range Support Levels Today 28 February:- The Indian equity market starts trade this morning on a firm not.          
Nifty Outlook: Market broke both the support areas of 5,370-5,320 indicating clear pressure on the downside. The next levels to watch for Nifty are 5,210 and 5,100. Nifty needs to hold onto 5,100 levels for the continuation of medium term uptrend. Even after this sharp correction we are still in an uptrend and we are advising buying near support area of 5,250-5,210.
Bank Nifty Outlook: Bank Nifty is trading near its crucial support levelof 10,080. Closing below this level will show further downside in till 9,550. If it manages to hold around 10,080 levles in coming sessions then we might see pullback in the index. We suggest wait and watch strategy and buy when some consolidation is seen in bank nifty.
Nifty & Bank Nifty Tips For Today:
  • Hold NIFTY(Cash) CMP-5,281 Target1-5,263 Target2-5,194 Sup/Res-5,370
  •  Hold BANK NIFTY(Cash) CMP-10,104 Target1-10,430 Target2-10,650 Sup/Res-10,080.

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