(Updated on 17-07-12 Time 08.40 AM)
We were short from 5260 and booked at 5210
As expected markets continued correction and lost the
level of 5200.
We hinted yesterday NF would face resistance at 5262-5279.
It formed high at 5261 and crashed.
Yesterday we indicated that 5210-5180 zone might change
the direction or from that level a bounce get triggered.
Now for today…
Above 5220 expect upward journey up to 5242-5255.
At these higher levels it may face hurdle.
Crossover with sustained volumes may add the strength and
boost the sentiment.
Below 5183 if sustains then 5169 – 5155 may not be ruled out
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