11.08.2011
Nifty is struck in a range. Though overseas markets were very weak overnight especially US markets (Dow down 520 pts. & Nasdaq dn 101 pts.), Nifty Futures opened lower at 5130 (5159) just 29 pts dn. it made a low of 5122 & high of 5187. It seems that markets are bit oversold and shorts are lending supports at weak openings. Any way still it is too early to make any comments. I still hold the view that Nifty will try to touch the low it made earlier of 4951. For it to go up substantially from that bottom, it will have to bridge the gap that it made on 5.08.2011 (5337-5191.)
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