August 26, 2010

Intraday View For 26/08/10

Nifty: Resistance 5482-5491/5515-5520/5555
Support 5464/5454-5444/5420/5385

As per yesterday's posrt, nifty took exact support @ 5464 & closed just at the support level. For today, Nifty may open flat inline with Asian market. Nifty if sustains below 5464-5454 range, further selling pressure may set in. On upside, immediate resistance @ 5482-5491 range, if crossed, some short covering / corrective upmove may be seen up to 5520-5555 range. ( 5520 would be immediate resistance on upside move )

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