NIFTY TREND FOR 17-08-2012
Major Resistance Levels : 5386-5410-5423
Major Support Levels : 5347-5331-5310
MACD indicates bullish market, while, RSI shows in an over bought region ( weak trend ). If nifty breaks our first resistance ( 5386 ) easily, it may get strong bullish support. If it happens, Nifty can reach up to either third resistance level ( 5423 ) or Bollinger Upper Band level ( 5455 ).
Nifty ( Closing ) : 5362.95
Indian markets couldn't gain the third consecutive trade today. Increasing crude oil prices prevented from further gain today. Besides, weak monsoon also made market weak today.
Indian markets need some significant trading policies and their implementations urgently. The lack of them restrict Indian markets within some small ranges.
GOOD LUCK........
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