Sunday, August 2, 2009

NIFTY Outlook for 3rd August 2009

NIFTY managed to put in yet another day of rise on Friday. However, there is danger on two fronts. Firstly, there's potential resistance at 4693 and if that's not enough, the next hurdle will be at the 360° line at4750. Will NIFTY hit turbulence at either of those levels and choose to head down or will it ignore the dangers and carry on even higher? The next 2-3 days promise to be very interesting.

Projected High: 4,702.1753 (65.7251 points)
Projected Low: 4,604.0254 (32.4248 points)

Bullish above 4,655
Bearish below 4,617

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