Nifty Update For Monday July 13, 2015

For Monday July 13, 2015, the trend deciding point for the day for Nifty emerges at 8289 mark. Again the first weekly support stands at 8307 mark. On its down move Nifty is expected to take support around 8307 - 8289 band. If this level is broken due to strong selling pressure, then the next support is expected to emerge at 8225 mark. But this will be possible only if there is a sharp down move. On ascent, the first resistance exists at 8434 mark, the weekly trend deciding point. A sharp up move can make nifty cross this level and make it reach to 8487 mark. An intermediate resistance stands at 8410 mark. If there is not much demand, then Nifty can reverse from here for downside, instead of 8434 mark. Again, on the other hand, an intermediate support exists at 8347 mark. If there is not much supply, then Nifty can reverse from here for upside, instead of 8307 mark.