Monday, October 24, 2011


Nifty was volatile in Friday’s session and it was facing resistance at 5100 level. After the whole choppier session Nifty had closed at 5049 level near the day’s low. A strong opening of U.S. markets European markets climbed at evening. U.S. markets closed 2.31% up with one day biggest gain after October 2010.Asian markets trading up after the European leaders tried to assure market’s participants. SGX Nifty trading at 5100 level which is a resistance level and Nifty cannot breach 5100 – 5150 level without any huge positive trigger. U.S. can be another downgraded by moody or lynch. Bank nifty is also following the index and facing resistance 9850 levels. Nifty may take direction after opening the European markets. Nifty may volatile due to expiry in this week. Auto stocks may participate in the rally from this level. Buy only selected stocks with strict stop-loss.