While giving the view for 11th August I stated "Below which nifty can go down to 5400-5385/65. Later levels will be for booking shorts." Nifty made a low of 5363 and I hope people with shorts in hand could book the profit comfortably. Sorry for my inability to post for next two days while I was completely all over the place with my crashed PC.
Supports: Nifty again has entered the higher trading range of 5440-5480, where moves are again expected to be quite sideways. Support @ 5440. Below which intra weakness can bring 5425/20-5405. 5380 is crucial from positional perspective.
Resistances: 5480 is intact. Above that 5495-5520/30 are possible.
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