Tuesday, August 12, 2014

Aug12 Update

Nifty again opened gap and closed above 7700 level with moderate volumes and neutral breadth.

1. Nifty up by 1.33% with 1.3 breadth.
2. 234th day since the lows of 5118, 127th day since the lows of 5933. 

Nifty opened gap up for 2nd consecutive day. Todays range was 81 points and Weekly Range is 137 points till today. Nifty has closed above the falling trendline resistance (7840-7800-7750) ,so next significant resistance for Nifty now comes at 7750/7800 , ie horizontal resistance.

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