NIFTY OUTLOOK
>> Wednesday, August 11, 2010
Today Nifty broken and closed below 5430
Since market is near RSI supports on daily and hourly charts, a bounce is not ruled out.
On the other hand, inability to cross 5430 would be a bearish sign intraday and
As an intraday strategy, use the first hour candlestick breakout to initiate trades.
Pivot: 5436
5DEMA: 5445
10DEMA: 5438
20DEMA: 5413
50DEMA: 5329
RSI (7 days): 46.71
Parabolic SAR: 5378
Supports: 5397 - 5373
Resistance: 5459 - 5498
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