Yesterday i.e. on 1 june 2011 Nifty closed at 5592 with the marginal gains of 32 points. Nifty has been trading higher and has moved up 3.3% in the past four days. Nifty has a strong resistance at 5640 (50-day SMA) and 5750 (200-day SMA).
Today, markets are showing negativity in the opening trade and banking stocks are the ones that are putting a lot of pressure on the indices. Some buying is there in HUL on the expectations that P & G may take control of the company. The Sensex is trading at 18401, down 207 points from its previous close, and the Nifty is at 5536, down 56 points.
NIFTY TECHNICAL LEVELS TODAY :-
SUPPORT :- It has first support close to the level of 5540 & below this level the next support is seen near 5480 mark.
RESISTANCE: It has first resistance close to the level of 5630 & above this level the next resistance is seen near the 5730 mark.
RESISTANCE: It has first resistance close to the level of 5630 & above this level the next resistance is seen near the 5730 mark.
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