Intraday Tips, Nifty Trend, Prediction for Monday 20th June 2011

Intraday Tips, Nifty Trend, Prediction for Monday 20th June 2011: It was not a good close for nifty at all, nifty suffered badly this week and fell inline with global cues as inflation occured heavy due to RBI's hiked interest rate of 25 bps, which made nifty nervous, pushing it down significantly and sell off in IT stocks due to fear of investors on RBI's interest rate.

Today Indian Benchmark Index Nifty also closed in red having loss of 30 points or 0.56% below from where it closed in previous session. The Nifty Index settled below 5400 and was down by 30.35 points.

Today Nifty futures closed below 5400 and was down by -29.70 points or -0.55 %. As the market seems to be bearish in the coming trading session if it manages to trade below the support level of 5320 and else above the resistance level of 5450 it would move to an upward trend. Nifty made intraday high of 5421 and low of 5356.

Support & Resistance for Monday:-
It has resistance close to the level of 5450 & above this level the next resistance is near the 5550 mark. It has support close to the level of 5320 & below this level the next support is near 5240 mark. source stock-intraday-tips.blogspot.com... For the latest updates PRESS CTR + D or visit Stock Market news Today

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