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Nifty Prediction and Technical Levels for 3rd August 2011

S&P CNX Nifty today gave gap down open at 5493 and continued to trade weak and markets ended with significant losses on the back of weakness in metal and realty stocks. After giving minor recovery nifty made low of 5434.
Nifty Futures finally settled and closed at 5466.50 which is down by -66.45 or -1.20 %. It is looking bearish in the coming trading session if it would be able to manage to trade below the support level of 5430 or above the resistance level of 5500 it would be in an upward trend.

Nifty Futures Support and Resistance Levels for Wednesday:-
Resistance1- 5500 & above this level
Resistance2- 5560.
Support1- 5430 & below this level
Support2- 5330.


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