Asian stocks fell, the domestic markets opened on a soft note, with IT stocks weighing down on the bourses, after two consecutive sessions of gains the previous week. Shrugging off weak Asian cues, the domestic markets logged gains for the sixth consecutive day. The S&P CNX Nifty closed at 5687.25, up 33 points or +0.58 %.

The Nifty futures closed and settled finally at 5699.65, up by 18.95 points or 0.33 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5730 else below 5660 it would be in a downward trend.

RESISTANCE:  Level of 5730 & above this level the next resistance is seen near the 5796 mark.
SUPPORT:  support close to the level of 5660 & below this level the next support is seen near 5570 mark.

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Nifty Tips for tomorrow

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I expected on Monday stock market trade to High.
Hot Stocks Today
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SBI 2582.65 2.14
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Domestic markets ended on a positive note on Friday despite witnessing tremendous volatility. The gains were supported by the short covering in the most beaten down stocks in the previous sessions. It seems that the markets were in a mood to consolidate today and wait for the budget day to happen next week.
The 50-share NSE Nifty went up 41 points, to end at 5,303 and the 30-share BSE Sensex climbed just 69 points, to close at 17,701.
Dipan Mehta, Member, BSE and NSE, thinks that as far the budgetary impact is concerned, markets shouldn’t expect any transformational moves from the Finance Minister. “Budget is a non-event, little bit of tinkering will take place here and there,” he adds.
Reacting on the crude oil price hike issue, he said that the crude oil price is a weak point of the domestic markets and it has the potential to pinch and hurt the markets to the maximum level. He says, “If you see crude prices going up another USD 10 from the current hike, you can easily factor in 5-7% decline in our markets and there is nothing in the budget, which will change it.

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