Views On Market For Monday (23-Aug)

1 comments
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.

One Response so far

  1. Unknown says:

    Nifty is being manipulated.. Statistics are not helping.

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