After moving in a range Nifty finally crossed 5400 and closed at 5420. Bank nifty is still struggling to break the range. Without its support jumps are not expected.
August 22, 2012
August 19, 2012
Nifty facing resistance
August 17, 2012
August 15, 2012
Nifty advances
Yesterday, Nifty gave the much awaited breakout and closed above the 5350-5360 range at 5380. Uptrend is intact till nifty maintains above the trendline.
Immediate resistance will be Oct'11 high of 5400. This target looks easily achieved on the back of lower than expected inflation data which gives rise to rate cut speculations.
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