Intraday Market Trend-16/08/2012

Markets gained momentum in the second half of the session surpassing the level of key resistance levels and setting a positive undertone for near term. Nifty future crossed the important resistance of 5410 and closed near it which is indicating strength in nifty for coming sessions. If it holds on these higher levels then it may move in the range of 5440-5480. While, 5370 is seen as good intraday support while next support is seen around 5320. TREND: SIDEWAYS SUPPORT : 5370 & 5320

RESISTANCE: 5440 & 5480

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