August 20, 2009

Intraday View For 20/08/09

Nifty: Resistance 4445/4484/4555/4594
Support 4374/4333/4312/4264-4250

Nifty witnessed another round of selling from higher resistance range & traded in a range in later part of the day. As expected Nifty held our support zone of 4374 & closed above it. Today again watch out for 4374 on downside support area, below it 4333-4312 are possible. Closing below 4312, will to some more panic fall upto 4XXX.Intraday on upside Nifty faces immediate resistance @ 4445, If crossed, 4484 can be expected.
Expect a +ve opening in line with Asian market.


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