08/08/2011 Trading Views
Nifty for the day gap down opened by more than 100 points and made a high of 5229.65 which was not able to break again and it made a low of 5116.45 which is new low for the year.
and closed at 5211 which is 120 points down from the previous days close.
Nifty broke the previous low of 5175 which indicates the weakness of the market ,
Now 5330 will act as a strong resistance and in the down side when it is closing below 5200 it will take the index towards 5032 and 4900.
For monday market is expected to give a mild pullback
Buy Canarabank above between 425-430 with stoploss of 418 for the target of 450
Buy PETRONETLNG at 170 with stoploss of 167 for the target of 179
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