Nifty, Bank Nifty Futures Prediction july 18 2011

Nifty, Bank Nifty Futures Prediction july 18 2011 : The Nifty lost 1.4% during the week. S&P CNX Nifty pack, 17 scrips advanced while 32 scrips declined. S&P CNX Nifty today opened at 5603 and made high of 5632 in the initial half hour but was not able to sustain and slide 69 points from its days high making low of 5563. Markets were trading in the red, albeit off the day's low. The Nifty after moving in the green in the early session, slipped into the red on weakness in auto and metal stocks. The S&P CNX Nifty is at 5,581.10 - down 18.70 points.

The Nifty futures closed and settled finally at 5591.25 down by 9 points or -0.16 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5670 else above resistance level of 5670 it would be in an upward trend.

Resistance and Support Levels for Monday july 18 2011
It has resistance close to the level of 5670 & above this level the next resistance is near the 5760 mark. It has support close to the level of 5440 & below this level the next support is near 5440 mark.

Bank Nifty Futures:
Today bank nifty futures not performed well and CNX Bank Index lost -29.25 points or -0.26 %. Amongst the banking index stocks Oriental Bank of Commerce, Canara Bank and Union Bank of India lead the row.

Bank Nifty Futures shut stop at 11252 down by -9 points or -0.16 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 11200 else above resistance level of 11405 it would be in an upward trend.

Resistance and Support Levels for Monday july 18 2011
It has resistance close to the level of 11405 above this level the next resistance is near to the level of 11500. It has support close to the level of 11200 & below this level the next support is near 11080 marks. (source stock-intraday-tips.blogspot.com )
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