Thursday, August 4, 2011

August series begins on a weak note...





After the close of July series around 5488 levels, august series saw a high of 5552 levels before
slipping below 5500 levels. It closed at 5405 levels yesterday after testing sub-5400 levels.

PCR is at 0.93 and overall only on a close below 5364 levels will the markets become bearish for the short term.

Resistance levels : 5414, 5423, 5462

Support levels : 5364, 5349, 5314



-Happy Trading

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