Sunday, July 29, 2012

Nifty out look for week ending 03 Aug 12

Last week it was predicted 
Nifty is taking good support at 5200 level if nifty will open positive then it will go to 5350+ and if it fail to sustain 5200 level then the next support will be  5090..
and nifty traded between 5032-5164 and closed at 5099
 possible range for next week will be 5100- 5200 extended to 5304 ..
if market participants will fail to retain above 5100 then 4958 will be Fib support  ..
Daily chart is showing that large gaps above 5100 are still open and Nifty may try to fill them in coming week  so possibility of an upside rally can not be ruled out .

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