For Tuesday, August 11, 2015, the trend deciding point for the day for Nifty emerges at 8480 mark. The first weekly support stands at 8466 mark. On its down move Nifty is expected to take support in the band of 8480-8466 band. If this band is broken due to strong selling pressure, then the next support is expected to emerge at 8414 mark. But this will be possible only if there is a sharp down move. On ascent, the first resistance exists at 8614 mark. A sharp up move can make nifty cross this level and make it reach to 8681 mark. An intermediate resistance stands at 8554 mark, the weekly trend deciding point. If there is not much demand, then Nifty can reverse from here for downside, instead of 8614 mark. Again, on the other hand, an intermediate support exists at 8490 mark. If there is not much supply, then Nifty can reverse from here for upside, instead of 8480 mark.
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