An extract of Nifty View of Tuesday, July 21, 2015, suggested: “For Tuesday, July 21, 2015, the trend deciding point for the day for Nifty emerges at 8532 mark. The weekly trend
deciding point stands at 8527 mark. On its down move Nifty is expected to take support in the band of 8527-8532 mark.” And the low of the day was at 8532.3.
For Wednesday, July 22, 2015, the trend deciding point for the day for Nifty emerges at 8474 mark. On its down move Nifty is expected to take support around 8474 mark. If this level is broken due to strong selling pressure, then the next support is expected to emerge at 8402 mark, the first weekly support. But this will be possible only if there is a sharp down move. On ascent, the first resistance exists at 8608 mark. A sharp up move can make nifty cross this level and make it reach to 8674 mark. An intermediate resistance stands at 8580 mark. If there is not much demand, then Nifty can reverse from here for downside, instead of 8608 mark. Again, on the other hand, an intermediate support exists at 8516 mark. If there is not much supply, then Nifty can reverse from here for upside, instead of 8474 mark.
For Wednesday, July 22, 2015, the trend deciding point for the day for Nifty emerges at 8474 mark. On its down move Nifty is expected to take support around 8474 mark. If this level is broken due to strong selling pressure, then the next support is expected to emerge at 8402 mark, the first weekly support. But this will be possible only if there is a sharp down move. On ascent, the first resistance exists at 8608 mark. A sharp up move can make nifty cross this level and make it reach to 8674 mark. An intermediate resistance stands at 8580 mark. If there is not much demand, then Nifty can reverse from here for downside, instead of 8608 mark. Again, on the other hand, an intermediate support exists at 8516 mark. If there is not much supply, then Nifty can reverse from here for upside, instead of 8474 mark.
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