Nifty prediction next week May 21-25 2012

Nifty prediction next week May 21-25 2012 ; Indices in the Indian stock market continued their bounce back journey during the closing stages of the day and as a consequence, managed to close the day comfortably in the positive. While Sensex closed higher by around 80 points, gains on the Nifty came in at around 20 points. BSE Mid Cap and Small Cap indices could not overcome the resistance and hence closed the day marginally in the negative. Nearly three stocks gained for every one that closed the day in the negative on the Sensex. views of experts on how the markets will perform next week, May 21-25 2012. The same are as follows:

Alex K Mathews, head technical and derivatives research, Geojit BNP Paribas:

``Nifty bounced backed from the key support level below 4,800 and closed for the week without losing much. Nifty is having resistance at 4,937, 4,982 and 5,056 while the support is there at 4,817 and 4,743 levels. US futures gained ahead of Facebook Inc debut and G-8 meeting. Europe is expected to remain subdued to weak and the global markets will overlook them till the new election results.``

Milan Bavishi, head research, Inventure Growth & Securities:

``Nifty closed the week with a strong recovery from the weekly lows. And the rise on Friday comes on back of rising volumes. Going forward, Nifty has next psychological resistance at 5,000 mark. On the downside, 4,730 is the support.``

Rakesh Goyal, sr.vice president, Bonanza Portfolio:

``Value buying enabled Nifty to recover its losses today however, sentiments remains cautious on both global and domestic developments. Markets have become highly volatile both on account of global developments and domestic events. Further downside cannot be ruled out. Upside resistance exist at 4,950.``

Sharmila Joshi, head equity, Fairwealth Securities:

``Support for Nifty stands at 4,834-4,768 levels while resistance now comes at 4,873-4,920 levels. Investors would also keep an eye on US Factory Orders to be released by the commerce department today evening in the US.``

GEPL Capital:

``Nifty opened highly negative but bounced back from sub 4,800 levels to erase all its losses and concluded at 4,891. After several days now there are some initial signs of strength, however as long as Nifty is unable to cross the level of 4,960 the change of trend to positive cannot be confirmed. In the immediate term, now the level of 4,800 would serve as a support for Nifty. If Nifty manages to sustain above 4,800 and clear the level of 4,960 then we may see further upside till at least 5,120. However in the absence of such confirmation of a break out above 4,960, we still advise refraining from long positions. On the downside if Nifty breaches the level of 4,800 then we may see further fall till 4,700 to 4,650 levels.``

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