Nifty Outlook For Monday 14-March 2011

The Indian Markets were inconsistent and rangebound in this week and closed in red. Both the benchmark indices (Nifty and Sensex) were down 1.7% for this week. Technically, Nifty formed a bearish candle however it will not create any fear about further fall in the existing levels.

For intraday trading on Monday, Nifty is expected to trade in the range 5,400-5,545.  If indices trade above 18,215/ 5,465 then they are likely to test 18,350- 18,480 / 5,495 - 5,530 levels. On the downside 18,060 / 5,410 levels remains crucial. Any breach of this level during the day, would result in loss of momentum on the upside and indices may slide to 17,950 - 17,880 / 5,420 - 5,380 levels.

Bank Nifty Futures Intraday Outlook

In the next session, Bank Nifty has a strong resistance around 10970-11090. If  it sustains above this level it may test 11,150-11200. On the down side Bank Nifty may trade with the support of 10,775, and below this level it may come down to 10,650.

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