For Wednesday, August 5, 2015, the trend deciding point for the day for Nifty emerges at 8460 mark. The weekly trend deciding point stands at 8494 mark. On its down move Nifty is expected to take support in the band of 8494-8460 mark. If this level is broken due to strong selling pressure, then the next support is expected to emerge at 8395 mark. But this will be possible only if there is a sharp down move. On ascent, the first resistance exists at 8593 mark. A sharp up move can make nifty cross this level and make it reach to 8661 mark. An intermediate resistance stands at 8578 mark. If there is not much demand, then Nifty can reverse from here for downside, instead of intermediate support exists at 8514 mark. If there is not much supply, then Nifty can reverse from here for upside, instead of 8460 mark.
| Karan Luhana Equity Expert, R K Broking |
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