DAILY LEVELS ON NIFTY & BANK NIFTY AND PREDICTIONS For 17-05-2011

Nifty Spot Levels

Today market closed down -45.75 points or  - 0.83% and finally settled at 5499.00 and Sensex closed down -186.25 or   (-1.01%) settled at 18,345.03

Nifty closed and settled finally at 5499.00, down by 45.75 points. It has been a bit of a struggle for the market today. The Nifty gained a couple of points in early trade and looked like it might manage to nudge closer to 5550 but to no avail, closing below the 5500-mark. Market will be very uncertain in upcoming trading session due to SBI’S Results. If it manages to trade at Support level 5470 then market would be upward trend and if breaks this level then it would go down by 45 points i.e., 5424 and if its does not sustain to this level then would decline  by 50 points more .

Nifty Manages below this level 5530 then market would be downward trend and if it breaks then would go higher about 45 points that is 5575.

Support : It has first support near to the levels of  5470 and below this level near to 5424

Resistance : It has First seen near to 5530 and above  this level near to5575

Bank Nifty Spot  Levels

Bank  Nifty Index Lost  10872 . it is looking Consolidate in upcoming trading session. If it copes to Support level 10750 then market would be upward trend and if it breaks this level then would go down by 130 points that is 10620 and if its does not sustain to this level then would decline by 100 points more

If  Bank Nifty manages below this level 10995 then market would be downward trend and if it breaks then would go higher upto 11125.

Support : It has first support near to the levels of  10750  and below this level near to10620

Resistance : It has First seen near to10995  and above  this level near to 11125

Posted in: BANK NIFTY TIPS,Daily Nifty LEVELS- 06-may-2011