3 August 2013


Nifty opened at 5750 but could not maintain this level and fell till 5658 and ended at 5677 Monday, the support levels are 5720 and 5700. provide the required support to halt further fall. However, if it were to fall below 5675 then another very strong support zone is located between 5630 and 5610. This range is unlikely to be taken out on the downside at one go barring a catastrophic development...

On the way up, the small range between 5780 and 5790 would be a very tough hurdle that the index needs to cross. We expect some attempt to move up on the upside but there could be a lot of volatility during the day due to the uncertainties prevailing now.
RESISTANCE:5730, 5760,5790

SUPPORT:     5720, 5700,5680

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