Nifty futures trading tips january 2 2012

Nifty futures trading tips january 2 2012 ; The last day of the year 2011 was quite bad for the market, weighed down by banks, metals stocks, and index heavyweight Reliance Industries. It had seen some short covering today but the last couple of hours of trade turned tricky. It closed lower for the fourth consecutive session on Friday. The Sensex fell 89.01 points, to close at 15,454.92 and the Nifty dropped 21.95 points, to end at 4,624.30.

The whole year itself had more disappointing reasons than positive news flow. Indian markets and investor sentiments were bouyed down by factors like 2G scam, rising inflatin, RBI's rate hike, disappointing quarterly results, government's prolonged divestment programme, lack of policy reforms, rupee depreciation and the unsolved European debt crisis among others.

The last week of 2011 started on a positive note with the main indices rising on Monday. But the markets fell in the remaining four days, including on Thursday when the December derivative contracts expired. The F&O rollover into January is believed to have been mostly bearish amid persistent uncertainty about the evolving domestic economic situation

Nifty Technical Levels for Monday 2 Jan 2012 :
Pivot Level = 4644.35
Support1 = 4569.35 Resistance1 = 4699.3
Support2 = 4514.4 Resistance2 = 4774.3
Support3 = ?Resistance3 = ?

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