INTRADAY STOCK TIPS FOR TODAY: Stock market Updates with Nifty range tomorrow 24 May 2012

Thursday, May 24, 2012

Stock market Updates with Nifty range tomorrow 24 May 2012

Stock market updates :- After a long gap market closed at positive mood,both intraday stock market indice trading at green zone due to strong buying in Oil,gas and banking sectors.Hike in petrol price and European market gains made the market pull back mood.the sentiment seems to have turned bullish on expectations of price hike in diesel and LPG which will help reduce subsidy burden and lower fiscal deficit as well.For tomorrow market is expecting up opening.

Nifty range :- support - 4848/ 4736 resistance - 4960 / 5072 pivot point – 4886

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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."