Nifty Prediction and Levels for Tuesday 8th August 2011

Today also Nifty showed selling pressure and closed in red below 5,150 levels. Today Nifty made day low of 5,054.05 and a high of 5,204.20. If Nifty does not recover then selling pressure may be seen. Nifty finally settled and closed at 5,118.50 or down by 1.78%. It is expectrd that markets will remain volatile as the overseas situation remains fragile.
It is looking bearish in the coming trading session if it would be able to trade above 5,100 levels, then rally to 5,150/5,200/5,250 levels may be seen. If Nifty does not trade above above 5,100 levels then selling pressure till 5,050/5,000/4,950/4,900 may also be seen.

Nifty Support and Resistance Levels for Tuesday:-
Resistance2-  5167.94, Resistance1-  5130.5
Support1-  5084.46, Support2-  5042.73


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