Stock Market Technical Views For Tomorrow(12-Aug)

It was another choppy day for the Indian markets which closed with big losses after a flat opening and weak session of trade. Today Nifty witnessed negative outlook most of the time and had a selling pressure below 5,440 level. For market tomorrow Nifty is expected to test crucial support band of 5,400-4,385 level. If Nifty Breach below 5,385 then it will add further more selling pressure in the market. Below 5,385 level Nifty should find support near 5,350 level. Overall bias below 5,440 level will remain negative. A breakout above 5,510 will negates the earlier view.

On an intraday basis, Nifty spot should find support near 5,396 & 5,370 level while the resistance will be at 5,435 & 5,460 level.

BSE Sensex Should find support level at 17922-17850 and resistance level at 18194-18257

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