Thursday, August 22, 2013

NIFTY Too close to support…? Expect the bounce from 22 Aug 2013

Here is the weekly chart with system generated Support and resistances. Historically, NIFTY has adhered to these levels and hence we can expect such an action here too. The Historical support points are circled and colored yellow. The support NIFTY might test today is 5200.

 

Yesterday, NIFTY gaped up and fell. Today we can expect the reverse. That is a Gap Down and rally rest of the day.

Disclaimer: The views expressed herein are to be used with your own discretion and neither analyst nor the publisher will be responsible for the outcome.

MASTERSTROKES