Friday, May 25, 2012

Nifty prediction next week may 28 2012

Nifty prediction next week may 28 2012, nifty tips, : The BSE benchmark Sensex today closed almost flat at 16,217.82 due to profit-booking in FMCG, oil and banking stocks after recent gains even as rupee continued its recovery for the second straight day against the US dollar. The 30-share Sensex, which had gained 274.20 points in Thursday's trade, fell by 4.48 points. During the day, it swung between 16,118.35 and 16,273.48 points.

The 50-share NSE Nifty shed one point to close at 4,920.40 after moving between 4,935.80 and 4,889.35.

how the markets will perform next week, May 28. The same are as follows:

Rakesh Goyal, sr.vice president, Bonanza Portfolio:

``Global developments continue to influence the market sentiments. The recent price hike in petrol and the forthcoming outcome of the Empowered Group of Ministers meeting which will discuss hike in diesel and cooking gas prices have made the sentiments jittery. The outcome of the meeting is likely to influence the short term trend of the market. Immediate upside resistance exists at 4,950.``

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

``Nifty is having resistance at 4,941, 4,972 and 4,999 while the support is there at 4,894 and 4,868 levels.``

GEPL Capital:

``Nifty is now trading near the level of 4,960 which is an important resistance. Should it breach the level of 4,960 we may expect a swift upside till 5,050 to 5,100 in a very short span of time. It now has support placed at 4,800. As long as it maintains this support the chances of an upside till 5,100 remains high. In the event it is unable to sustain above 4,800 then we may see further downside till 4,700 and lower. However there are some encouraging signs on the charts which indicate that it is likely to trend higher in coming few days.``

Milan Bavishi, head research, Inventure Growth & Securities:

``The Nifty need to close above 4,960 levels in order to decisively confirm higher tops and higher bottoms on the daily charts. Once this is seen, a near term bullish trend reversal would be in place and Nifty could head higher to 5,080 levels. On the downside, 4,767 would act as key support level

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