Wednesday, August 8, 2012

Nifty Range for August 8, 2012

Nifty range should be weekly pivot, and today Bulls need to protect second pivot of the week i.e 5312, else Nifty may target 5266 again and then obvious target would be 5200 next week.
Dow has formed shooting star at top of a rally, hence expect it to trade lower in short term, this will effect our Nifty to follow the suit.
Less volume at higher level suggest less demand, smart money is waiting for breakout and opportunists are waiting for a dip.

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