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Nifty View - August '16 Series |
vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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Post: #31  Posted: Wed Aug 24, 2016 6:59 pm Post subject: |
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This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.
Nifty for Thursday (25/08/16) and beyond
Supports are at about 8641/24/09/01, 8598/79/56 and 8531 while resistances are at about 8658/70/87, 8708/54 and 8783. Two +WWs can give about 8675 (if above 8608) and 8734 (if above 8640) (+WWs with higher targets are not mentioned as of now). A -WW can give about 8512 (-WWs with lower targets are not mentioned as of now). A ST can give about 8810/8460 in case of a break out/down above/below 8680/8590 resp.
Nifty opened gap up and fell but recovered to close +ve above 8600. Daily candle is again a hammer cum doji with strong +ve volume and we may see further rise. Nifty must close above 8674 to begin with while a close below 8624 may start a fresh fall. Global and local eco-political events and liquidity can have a bearing on how nifty moves in short term. |
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