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Tuesday, February 1, 2011

Nifty Outlook For Tomorrow 02-Feb

Indian indices ended in the deep red, 50-share index Nifty touched intraday low of 5402 and the 30-share index Sensex touched a low of 17982.17. S&P Nifty managed to hold back the 5400 mark and Sensex close below the 18000 level. On the back of consistent sell off for 5th consecutive trading session Nifty future made a low of 5411.20 and it managed to hold back psychological level of 5400.
 
Nifty futures is showing a good support at 5350, once this level is cross it might face more selling pressure which can make the nifty to test the level of 5300 else it has major resistance at 5545 above this level nifty would be in a bullish trend.

Resistance – 5545/5600
Support – 5350/5300

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