August 20, 2010

Intraday View For 20/08/10

Nifty: Resistance 5530/5555/5575
Support 5491/5451-5440/5420/5415

Nifty remained volatile for whole day in given range & closed flat. Today, expect Nifty to open flat/+ve. Immediate resistance @ 5555-5575, from where fresh selling pressure can be seen. Immediate intraday trend decider support is again pegged @ 5491... below if sustained, fresh selling can be seen & take dip towards 54451-5420 range.
(Positionally, closing below 5415 Nifty week.)

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