NIFTY OUTLOOK FOR 21ST JUNE 2012
NIFTY SPOT LEVEL TREND - BEARISH
Tomorrow trading is expected between the broad levels of 5080-5165. If the market breaches the level of 5145 on the upper side then the next resistance level will be 5165. But if nifty breaches the support level of 5105 then it may go down till the level of 5080.
BANK NIFTY FUTURES TREND- BEARISH
Based on the running trading scenario bank nifty future is expected totrade between the broad levels of 9715-9940. Bank nifty futures can go down till the level of 9715 once it breaks the level of 9785. On the opposite side once breaking the level of 9895, it is expected to go upward till the level of 9940. Bank nifty will be trading between the narrow ranges of 9785-9895.
EXPERT VIEWRemain range-bound market: Mohit Gaba
According to technical analyst Mohit Gaba now period of negative reports is over in market . The Nifty is expected to remain at 5100 levels.According to Gaba in the current market Nifty long positions with stoploss of Rs 5100 can be made. But keep in mind the market is range-bound trading. So profits will be slightly lower.