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Thursday 9 August 2012

Nifty Technicals 9th August

After achieved 5400 (5393 August futures high) as analysed by us on 6th August. Nifty formed a reversal candle on daily charts. Now Nifty's bias may turn -ve as long as Nifty August futures remain below 5395. A sustain break above 5395 will have initial target of 5423. Down side cross of 5315 will have initial target 5280 and 5250. Now Nifty forming a channel with 5250 support and resistances above 5500
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