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Friday, May 20, 2011

Nifty Futures Intraday Outlook for Monday 23-May

The Nifty index opened in the green, tracking positive Asian peers and crept higher led by gains in front line stocks Larsen & Tourbo, HDFC, ICICI Bank and HDFC Bank. The S&P CNX Nifty ended at 5486.35, up 58.25 points or 1.07 %.

The Nifty futures closed and settled finally at 5484.60, up by 59.80 points or 1.10 %. It is looking bullish in the coming trading session if it manages to trade below the support level of 5385 else above resistance level of 5540 it would be in an upward trend.

RESISTANCE: 5540 & 5625 mark.
SUPPORT: 5385 & 5310 mark.

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