For Friday, July 17, 2015, the trend deciding point for Nifty for the day works out at 8540 mark. Thus any fall towards 8540 is to get supported here. If this level is broken due to strong selling pressure, then Nifty is expected to move towards 8474 mark. But this is possible only if there is a sharp down move. On ascent, the level of 8674 is the hurdle. In case of a sharp up move, the crossover of this resistance is to take Nifty to the next level of hurdle, which emerges at 8743 mark. The intermediate support stands at 8598 mark. If there is not much supply, then Nifty can reverse from here for upside, instead of 8540 mark. Again, the intermediate resistance stands at 8663 mark. If there is not much demand, then Nifty can reverse from here for downside, instead of 8674 mark.
| Karan Luhana Equity Expert, R K Broking |
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