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Wednesday, July 29, 2015

Markets Snap 4 Day Loss To Close Positive Amid Range Bound Trade. Nifty Holding Support of 8310.

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Resistance at 8460 and support at 8320 for Nifty Spot. For Subscribers we gave 8385 as initial resistance.

Nifty Spot exactly respected our resistance by hitting day’s high of 8381.50, low of 8338.45 and closed at 8375.05.

For Bank Nifty Spot we gave 18550 as resistance and 18180 as support. For Subscribers we gave 18385 as initial resistance and 18255 as initial support.

Bank Nifty Spot exactly respected our levels by day’s hitting high of 18384, low of 18264 and closed at 18323.

For Nifty Future resistance given at 8475 and support given at 8335. For Subscribers we gave 8400 as initial resistance. Nifty Future opened at 8385 and traded in a range of 8338-8368 in first half of the day to hit day’s low exact to our support at 8336.85 around noon. After a higher range of 8350-8377 in afternoon session Nifty Future inched to hit day’s high just below our resistance of 8400 at 8388 in last hour and closed the day at 8377.65.

Resistance for Bank Nifty Future given at 18580 and support given at 18210. For Subscribers we gave 18415 as initial resistance and 18285 as initial support. Bank Nifty Future opened at 18330 to hit day’s high almost exact to our resistance at 18405 in first 45 minutes and slipped to hit day’s just below our support of 18285 at 18262 in pre noon trade. After trading in a range of 18277-18380 for rest of the day Bank Nifty Future finally settled at 18329.

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