NIFTY TREND FOR 22-08-2012
Major Resistance Levels : 5444-5465-5503
Major Support Levels : 5382-5344-5324
MACD depicts that Nifty is on bullish. But, RSI stands at over bought region. Since, the later shows a bearish signal.
Nifty ( Closing ) : 5421
As we predicted yesterday, Nifty could close in green with the gain of 55 points today. IT stocks showed some energy today. It happened due to the expectations from Europe and US.
Moreover, improvement of monsoon and beginning steps from the government for a good financial status helped the market to keep it strong.
Volatility was high and India Vix closed at 16.30
GOOD LUCK.......
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