August 06, 2008

Intraday View For 06/08/08

Nifty: Resistance 4540/4594/4620/4658-4760
Supports 4490/4460/4420

View: Nifty gave a strong breakout after breaking Resistance. US market rallied after expected move by Fed & crude trading around $118, giving global market a relief & a green touch to world market. This is just corrective upmove, so do not get carried away by this rally at all. This rally may go upto 4902. So avoid buying at higher level & rather start thinking of booking profits. Try exit in your stuck positions at upmoves, as Fii's are still net sellers.



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