The Nifty Index in last trading session ended at 5480.25 with gains of more than one percent. On the derivatives front we have seen that the Nifty Futures prices surged along with an overall decrease of open interest and increase in the cost of carry, this is an indication of closure of short positions. On the options front the OI PCR has ended at 1.27 vs. 1.19 whereas the Volume PCR has ended same as previous at 1.13. On the Volatility Front the Indian Volatility Index has ended at 20.97% vs. 22.26% losing 5.80 % indicating | Nifty Intrday Tips | some ease off in the markets. Future Trend 24 March
Nifty For 24th March :- First of all, Spot Nifty should open and sustain at least above 5480 in the opening bell. Nifty hurdle is at 5490. Spot Nifty will face the first resistance at 5510-5520 levels. If 5520 can sustain for some time then fresh buying will take the Spot Nifty as such: 5540-5550-5585-5620. otherwise, if spot nifty could not sustain 5480 in the opening bell, then profit booking can bring the spot nifty down up to 5460-5450-5425 levels. breaking 5425 panic selling may start and spot nifty can come down as such: 5400-5370-5340. above is the possible scenario of 24th March market. what ever may be the case, both spot nifty as well as the market will ply in the wide gaps & you have to make profit within that. Nifty Technical View For Tomorrow
Nifty Intraday Levels for Thursday 24 March 2011
SUPPORT 1 SUPPORT 2 RESISTANCE 1 RESISTANCE 2
5426 5373 5509 5539
Nifty Future Levels for Thursday 24 March 2011
SUPPORT 1 SUPPORT 2 RESISTANCE 1 RESISTANCE 2
5442 5384 5532 5563 Nifty Chart