Views On Market For Monday (23-Aug)

Looking at the nifty charts and daily reports a technical breakout above 5,550 will push Nifty future towards 5,580 - 85 level while a breach below 5,500 level will drag Nifty Future further down to 5,460 & 5,400 level. Market is trading at 52 weeks high; close to major resistance zone suggest cautiousness in near term. On an intraday basis, Nifty should find support near 5,496 & 5,480 level while the resistance will be at 5,562 & 5,579 level. BSE Sensex should find the crucial support at 18276-18210 and resistance at 18510-18633.

The expiry of derivative contracts is due next week which could induce volatility in the market. but we expect the trend to remain positive and rise over the coming weeks.

2 Responses so far

  1. babu says:

    Nifty is being manipulated.. Statistics are not helping.

  2. DAKSHIT says:

    SGX Nifty is heavily manipulated by FII operators and they have almost HACKED the indian markets.JAGO SEBI JAGO. OPEN THIS LINK.

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