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Nifty Trend for Friday 17th June 2011

Discussion in 'Stock Market News & Analysis' started by rohans305, Jun 16, 2011.

  1. rohans305

    rohans305 Member

    May 4, 2011
    Likes Received:
    Today Markets succumbed with selling pressure in the last leg of trade after Reserve Bank of India raised rates by 25 bps which may weigh on margins & profitability of India Inc as loans become more expensive. The S&P CNX Nifty finally closed near day’s low at 5396.75 and was down by -50.75 points or -2.48 %.

    Nifty futures today closed and settled finally at 5409 and was down by -41.60 points or -0.76 %. Nifty futures is looking bearish in the coming trading session if it manages to trade below the support level of 5350 else above resistance level of 54, it would be in an upward trend.
    Resistance & Support Levels for Friday:-
    It has resistance close to the level of 5460 & above this level the next resistance is near the 5540 mark. It has support close to the level of....click here to read full post
    Source:- http://stock-intraday-tips.blogspot.com/

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