CNX Midcap index was up today: 24 august 2011, 1.18 % about and S&P CNX 500 gained about 1.01% while BSE small cap index and Midcap also gained at 1.16% and 0.95% Respectively.
The BSE Sensex ended at 16,498.47 gaining 156.77 points. The NSE Nifty closed at 4,948.90 gaining 50.10 points.
Stock indices reference seemed to find the rhythm of today, as bargain hunting was seen as the IT stocks that were beaten in the recent collapses.
Overall trend would be bullish and market is expected to be open in green in first training session as US market is also expected to be open on green. All sentimental are supporting them. One cannot neglect the fact that the FIIs continue to be net sellers in the Indian share markets. So it would be wise to remain cautious.Nifty has its first resistance level at 4952 and last resistance level at 5025 .
Nifty has its first support level at 4936 and last support level at 4864 .
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