INTRADAY STOCK TIPS FOR TODAY: Stock market Outlook |Nifty Range tomorrow 22 may 2012

Monday, May 21, 2012

Stock market Outlook |Nifty Range tomorrow 22 may 2012

Stock market outlook :- After a storng note opeing today market ended with flat end afte the choppy trading session.Today all the gains sheded due to deep fall in rupees and European market. SBI, Reliance Industries, L&T and ICICI Bank helped market closed marginally higher while the fall in ITC, Infosys, HDFC Bank and ONGC limited the upside.For Tomorrow market is showing weak setiments.

Nifty support nd Resistance level :- For tomorrow nifty has resistance level at 4916 if this would break then next resistance level will be at 4965.nifty has support level at 4867 if this would break then next support level will be at 4818,pivot level at 4899. for intraday calls
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CapitalVia Global Research Head of Research Vivek Gupta said: "The good thing to cheer for the investors is that now they own a stake in the company which is much more clean in all the aspects and is amongst the top-five IT companies." Via moneycontrol.com Commenting on the outlook, the broking firm CapitalVia Global Research said, "Next week, if gold sustains above the level of 26,430 then by breaking the level of 26,890, it may touch the level of 27,250. But if it fails to sustain above 26,430 then may touch the level of then it may test the level of 25,311/25,200. For silver 42,800 may act as good resistance. For the next week, traders can sell on higher level strategy, if MCX Silver September futures sustains below 41,080 then it could test the levels of 40,340/ 39,900." Via myiris.com Vivek Gupta, head of research, CapitalVia Global Research said, "Technically, Nifty is likely to consolidate in the upcoming session and remain bullishly poised. Major resistance for upside is 6,080 with the crossing of which 6,150 can be touched. For downside, major support is at the level of 5,850 and 5,750."