If the Nifty manages to hold above 5370 with good volumes then it will consolidate with bullish bias towards 5404 and beyond. But the chances of unwinding of long positions cannot be ruled out on account of the settlement of Futures and Options on 30 August in an already truncated week, in which case the market may find support at 5351 and then 5327. The technical indicators, however, indicate a bullish undertone.
Monday, August 20, 2012
S&P CNX Nifty for 28 August 2012 to 31 August 2012.
If the Nifty manages to hold above 5370 with good volumes then it will consolidate with bullish bias towards 5404 and beyond. But the chances of unwinding of long positions cannot be ruled out on account of the settlement of Futures and Options on 30 August in an already truncated week, in which case the market may find support at 5351 and then 5327. The technical indicators, however, indicate a bullish undertone.
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