Sunday, August 19, 2012

Nifty Outlook, Tuesday 21, 2012

I posted the following possibility of nifty resistance on July first week. It took little late to reach there and now a down move is more prominent.
Now both the resistance (falling & static) and 100 week SMA is producing strong resistance at 5400.
5250 to 5266 is first possible support zone. Short trader may book first profit at this level.

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