Indian shares declined today as investors were hurt by the weak global markets and ahead of F&O expiry day for the month of Aug’10. The NSE Nifty advanced by 42.75 points or 0.78% to end at 5462.35.and BSE benchmark ended at 18179.64, down by 131.95 points or 0.72%.
Yesterday Nifty break the support level at 5489 and came down upto 5466 and hit our stop loss.After that Nifty face resistance at 5490 and came down to 5452.55.Finally Nifty close at 5462.35
Nifty Intraday Trend Analysis for 26/08/2010
Nifty face Resistance at 5477. If nifty reach this level go short and keep stop loss at 5492. Target 5458,5453. Above 5493 go long and keep stop loss at 5477 target 5510, 5515.
Nifty take support at 5448. If nifty reach this level go long and keep stop loss at 5433. Target 5467, 5472. Below 5432.5 go short and keep stop loss at 5447.80 target 5415, 5410.
Happy Trading.
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