Sunday, August 29, 2010

For 30-08-2010, Monday


On friday, Nifty had taken support near the50dema at 5386 but has clearly fallen below 20dema and 5dema. This week, any bounceback due to positive global markets, will face resistance near 20dema and 5dema. The gap between these 2 emas is narrowing down and when the 5dema<20dema, the fall may accelerate. Any close above both the averages can be taken positive for the market to move up.


NIFTY SPOT5408.7
SENSEX SPOT17998.41
BANKNIFTY SPOT10727.45

Levels for today

NIFTY

Buy Above/SL 5466/18167 Target 5511/18302
SAR/Sell Below 5436/18080 Target ------
Sell Below/SL ----/------ Target -------
SAR/Buy Above
----/----- Target -------

BANK NIFTY

Buy Above/SL 10905 Target 11049
SAR/Sell Below 10815 Target ------
Sell Below/SL ----- Target ------
SAR/Buy Above ----- Target -------

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