Daily levels and Market predictions : 20 may 11
Nifty Spot Levels
Today market closed up 7.50 points or (0.14 %) and finally settled at 5,428.10 and sensex closed up 55.20 points or (0.31) and finally settled at 18,141.40
Nifty closed and settled finally at 5428.10, up by 7.50 points. The market managed to end the three-session losing streak as frontline indices gained marginally in a lackluster session. The Nifty ended flat at 5,428.10, while the Sensex closed at 18,141.40, up just over 50 points. Domestic market has witnessed much volatility in the past few weeks due to various factors like macroeconomic issues, earnings downgrades and interest rate hikes. Analysts on the street feel that the market has got derated and unless concerns over macroeconomic issues simmer down, the market won’t be able to enjoy a strong rally.Market will be very uncertain in upcoming trading session. If it manages to trade at Support level 5395 then market would be upward trend and if breaks this level then it would go down by 40 points i.e., 5345and if its does not sustain to this level then would decline by 45 points more .
Nifty Manages below this level 5475 then market would be downward trend and if it breaks then would go higher about 45 points that is 5535
Support : It has first support near to the levels of 5395 and below this level near to 5345
Resistance : It has First seen near to 5475 and above this level near to5535
Bank Nifty Spot Levels
Bank Nifty Index Lost 10562 . it is looking Consolidate in upcoming trading session. If it copes to Support level then market would be upward trend and if it breaks this level then would go down by 110 points that is and if its does not sustain to this level then would decline by100 points more
If Bank Nifty manages below this level then market would be downward trend and if it breaks then would go higher upto
Support : It has first support near to the levels of and below this level near to
Resistance : It has First seen near to and above this level near to
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