Sunday, August 8, 2010

NIFTY - Weekly outlook.

* 5345 to 5365 is an important support level for this week.

* 5475 to 5500 can act as a resistance zone.

* 5356.90 is a Monthly Floor pivot.

* For forthcoming days, 5236.30 can be interesting level to be watched if we get weekly closing below 5356.90.

* Buy and hold in panic !

* Move above 5500 can bring in short covering.