Volumes have been very dry in the week. On the Thursday, volumes gained on back of new listing of Adani power. FII for the week remained seller for the amount of Rs.3000 Cr for the week ended 20th Aug 2009. DII remained buyers for the week to the tune of Rs1500 cr. Wholesale Price Index-based inflation fell 1.53 per cent during the week ended August 8 against the previous week’s year-on-year dip of 1.74 per cent, according to data issued on Thursday. Midcap continued its rally.
On Monday Nifty closed below the 4440 levels and below its 2 parallel trendline. RSI to close below its trendline. Nifty continued its roller coaster ride. Nifty took support at the 50DMA. Nifty continued to face resistance to close above the resistance level. But successfully closed above the same on Friday, with good volumes. Nifty will continue to have support at 4440 levels. Nifty has small resistance at 20DMA at 4530 levels. But close above the same can take Nifty to 4585 -4637 levels.
On Monday Nifty closed below the 4440 levels and below its 2 parallel trendline. RSI to close below its trendline. Nifty continued its roller coaster ride. Nifty took support at the 50DMA. Nifty continued to face resistance to close above the resistance level. But successfully closed above the same on Friday, with good volumes. Nifty will continue to have support at 4440 levels. Nifty has small resistance at 20DMA at 4530 levels. But close above the same can take Nifty to 4585 -4637 levels.
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