Nifty: Resistance 5665/5697/5735/5757/5777
Support 5630/5615/5585/5555/5522/5495
Nifty faced resistance at higher zone of 5757-5777 zone & corrected sharply & held support zone of 5666. Today, nifty may open flat/-ve inline with Asian market. Intraday, immediate support pegged @ 5630 & 5615... Sustaining below this zone, Nifty tends to get weak for some more profit booking setting in. On upside, sustaining above 5665, Nifty may see some +ve moves till 5685-5697 zone. Above 5735 Nifty may see some pullback rally.
With Infy starting off results sessions tomorrow with IIP data coming, we would advise some cautious take on Nifty today.
BSE Metal index tumbled 3% after a section of the media reported that the Group of Ministers (GoM) approved the draft mining bill. Key recommendations include (1) coal mining companies will need to pay 26% of their profits and (2) other major mineral miners to contribute an amount equal to the royalty being paid by them towards regional development.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment