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Friday, August 14, 2015

Markets Reverse Three Day Losses Helped By Short Covering Rally.

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Yesterday We Gave.

Resistance at 8440 for Nifty Spot. For Subscribers we gave 8375 as initial resistance and 8525 as final resistance.

Nifty Spot traded exact to our levels by hitting day’s low of 8381.20, high of 8530.10 and closed at 8518.55.

For Bank Nifty Spot we gave 18360 as resistance. For Subscribers we gave 18205 as initial resistance and 18535 as final resistance. Above 18535 we gave 18645-18765 as further resistance in live markets.

Bank Nifty Spot also exactly respected our levels by hitting day’s low of 18193 and rallied to hit high of 18766 to close at 18724.

For Nifty Future resistance given at 8465. For Subscribers we gave 8400 as initial resistance and 8550 as final resistance. Nifty Future opened gap up at 8445 to hit day’s low exact to our level at 8402.10 and traded in a range of 8403-8441 in morning session. After jumping to trade in a higher range of 8430-8526 till afternoon Nifty Future inched to hit day’s high exact to our last resistance at 8553 in last 30 minutes and closed at 8542.70.

Resistance for Bank Nifty Future given at 18425. For Subscribers we gave 18215 as support and 18600 as final resistance. In live markets we gave 18410-18830 as further resistance levels above 18600. Bank Nifty Future also opened gap up at 18349 to hit day’s low exact to our support at 18222 and jumped to hit 18577, just below our last resistance of 18600 in morning session. After a consolidation range of 18507-18562 in mid noon trades, Bank Nifty Future rallied in afternoon session to hit day’s high exact to our resistance at 18840 in last 30 minutes and settled at 18791.

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