(Updated on 30-08-2012 at 08:00 AM)
Yesterday we indicated 5351 is hurdle zone and
below 5335 slide upto 5323 and
trading below 5018 would take it to 5302-5294.
Nifty fut formed high at 5350 and declined to 5292.50.
5339-5350 is Resistance zone and below
which the short term trend is down.
In upside nifty may move up to that level and then retrace.
Breakout below 5281 may drive even lower up to 5266-5251.
Three daily and weekly Closing below 5280 may
create more downside and likely to touch 5251-5200.
5200 is good support.