INTRADAY STOCK TIPS FOR TODAY: Stock Market Updates | Nifty Trading range Monday 23 July

Friday, July 20, 2012

Stock Market Updates | Nifty Trading range Monday 23 July

Stock market Updates :- Stock market had negative note trading session today.the Nifty closed in the negative terrain on Friday, led by losses in BHEL, Kotak Bank and Dr Reddy's Laboratories.Sensex closed at 17161, down 118 points from its previous close.

Nifty Trading range for Monday 23 july :- Nifty is expected between the broad levels of 5175-5255. If the market breaches the level of 5230 on the upper side then the next resistance level will be 5255. But if nifty breaches the support level of 5190 then it may go down till the level of 5175.

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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."