Nifty Levels for tomorrow

Nifty after a range bounded day yesterday, started to fall from the day open. Nifty which continued its winning streak for the last couple of days ended today after markets closed near 18,534.40.

We expected NIFTY to have a positive start for the day, we did mention NIFTY should open above yesterday’s high of 18865 for the uptrend to continue and we also did make a note that any trades below yesterday’s low 18588 could cause market to fall further to 18500 levels.

Nifty did have an gap-up opening today and continued to fall for the most part of the day. However, there was last-hour buying which shifted the momentum in favor of markets.

The NIFTY trend which changed to negative couple of days is again turned positive today. A positive GDP and no change in intrest rate by RBI on June 5  or June 6 could push the markets higher.

The most important levels for tomorrow would be 18865,18627,18612,18588,18546.18522,18480,18457 and 18412.

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