August 03, 2012

Intraday View For 03/08/12

Nifty: Resistance 5255/5275/5320/5333
Support 5222/5190/5164/5131

Nifty for consecutive second day closed flat, with selling seen oil & gas, metal and banking sector. Nifty faced resistance @ higher zone of 5255-5275 zone & took support @ 5222. We may see some more booking below 5222 towards 5190-5164. Nifty has crucial support @ 5164-5131 zone. Expect some support to take place & some bounceback may be seen from this zone. Today Nifty may open with gap down. On upside, Nifty resistance 5255-5275, once cleared, Nifty may head towards 5320+ zone.

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