nifty futures tips, resistance level january 5 2012

nifty futures tips, resistance level january 5 2012 ; The market snapped its two-day winning streak on mixed global cues, which resulted in a high degree of volatility. A setback in the PSU disinvestment process also weighed on the investors. The Nifty made a higher high today on rising volume of 56.45 crore shares on the National Stock Exchange (NSE). Yesterday, we had mentioned that Nifty is headed for a short rally where it may reach the level of 4,900. We continue to maintain it. Today's intraday low on the Nifty was the highest in the past 15 days

The market opened almost unchanged as investors resorted to profit booking after the two-day rally. The fall was despite gains in the US markets overnight and the Asian pack in morning trade today. Cautiousness among investors ahead of a crucial Cabinet meeting to approve the proposal allowing state-owned companies to buy back stake in public holdings kept sentiments lower. The Nifty opened 10 points up at 4,775 and the Sensex resumed trade at 15,967, a gain of 28 points over its previous close. Realty, metal and banking sectors witnessed selling pressure in early trade.

NIFTY SPOT LEVEL: 5TH JANUARY 2012
In upcoming trading session there is higher possibility that nifty spot will manage between broad levels of 4645-4845. If the market breaches the level of 4800 on the upper side then the next resistance level will be 4845. But if nifty breaches the support level of 4685 then it may go down till the level of 4645.

BANK NIFTY FUTURES: 5TH JANUARY 2012
In upcoming trading session, bank nifty future is expected to trade between the broad levels of 8190-8590. Bank nifty futures can go down till the level of 8190 once it breaks the level of 8280. On the opposite side once breaking the level of 8485, it is expected to go upward till the level of 8590. Bank nifty will be trading between the narrow ranges of 8280-8485.

NIFTY SUPPORT AND RESISTANCE 5 JAN 2012

Nifty Support Levels :- Technical support for the NIfty is marked near 4723 - 4704 - 4673.
Nifty Resistance Levels :- Nifty resistance levels is at 4773.7 - 4804.85 - 4823.7

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