Nifty Tips For 1 June 2011 | Technical Views of Nifty

After a flat closing yesterday, the markets staged a stellar comeback today as a lower GDP growth in March eased fears of a hawkish policy stance by the Reserve Bank at its policy meet scheduled next month. Finally at the close the S&P CNX NIFTY settled in the green, closing up 87.05 points at 5560.15 which is up 72 points from the day's low.

The Nifty futures closed and settled finally at 5552.20, up by 85.35 points or 1.56 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5570 else below support level of 5410 it would be in a downward trend.

RESISTANCE:  5570 & above this level the next resistance is seen near the 5630 mark.

SUPPORT:  5480 & below this level the next support is seen near 5410 mark. 

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Commodity Tips Today 11 April Monday

BULLIONS

Gold: Buy at Rs21400 stop at Rs21345 target- Rs21480- Rs21520 ranges.

Silver: No trade.


BASE METALS

Copper: Buy at Rs441 stop loss below Rs439 target- Rs445- Rs447 ranges. (In our positional call you have booked profit Rs26 in single call)

Zinc: Buy around Rs112.5 stop loss below Rs110.80 target- Rs114.8- Rs115.5 ranges.

Lead: No trade

Nickel: Buy at Rs1225 stop below Rs1214 target- Rs1244- Rs1250 ranges.

ENERGY

Crude Oil: Buy in the ranges of Rs4980- Rs5000 stop loss below Rs4940 target- Rs5065- Rs5090 ranges.

Natural Gas: Sell at Rs180.5 stop loss above at Rs182.5 target- Rs176- Rs172 ranges.

DGCX/COMEX

Gold: Buy around $1472- $1473 stop loss below $1468.5 target- $1479- $1484 ranges.

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