Nifty Intraday Trend Analysis for 25/08/2010

Previous Day View: Nifty Open:5541.10 High:5547.25 Low:5588.45 Close:5505.10 (-38.40)

  Indian markets today ended in the negative territory tracking the weak global market amid fears that the rate of global economic growth is slowing down. The NSE Nifty reduced by 38.40 points or 0.69% to end at 5505.10 and BSE benchmark ended at 18311.56, down by 97.76 points or 0.53%.
   Yesterday Nifty Support level at 5535. Nifty break the support level and hit the stop loss at 5526. After that the Nifty break the down side break out zone 5525.5 and achieved our short traget 5511,5508.

                                      Click and see here what we told yesterday

Nifty Intraday Trend Analysis for 25/08/2010 (Spot Levels)

 Nifty face Resistance at 5521.5. If nifty reach this level go short and keep stop loss at 5538. Target 5501,5494. Above 5539 go long and keep stop loss at 5521 target 5560, 5567.

 Nifty take support at 5489. If nifty reach this level go long and keep stop loss at 5472.5. Target 5510, 5518. Below 5472 go short and keep stop loss at 5489 target 5454, 5447.

Happy Trading.