(Updated on 16-08-2012 at 07.50 am)
As expected NF took support at 5355 and then
rose and closed above 5406.
We had written that if it took support between 5359-5352 and
trades above 5365 then it would see 5384-5397.
But on the back of a positive inflation figures market got a
boost and formed higher high at 5416.
Now for today…
5391-5382 is good intraday support.
Crossover 5421 with sustained volumes may add power and elevate NF
to higher at 5436-5452-5467.
5470-5482 is hurdle zone.
Grab above 5421 it may see 5436-5443 in minutes.
5350-5365 is good support for short term trend.
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