Nifty and Bank Nifty Tips for Today 6th May

Market Overview-

Nifty Today witnessed a selling pressure below 5500 and still looking bearish. The experts are expecting the inflation rate to move up in coming month as crude oil prices are moving up. This will result in transportation cost which will ultimately affect the end consumer resulting increase in Food price and inflation too.

The near term support levels for Nifty are -5400 -5350 and resistance is at 5,500 level.



Nifty Futures Tips

Buy Nifty Futures above 5476 for the Targtes 5495-5515 SL-5455

else sell below 5433 For the targets 5410-5390 SL-5455


Bank Nifty Futures
Buy Bank Nifty Above 10810 Target 11810-11960 SL- 10750

Sell Below 10670 Target 10590-10500 SL-10750