Nifty Intraday Prediction: Market Trend For 3 August 2011

The weak Cues from Overseas and heavy fall in metals and reality stocks had an adverse effect in market and the benchmark Indices had to face significant loss on Tuesday. Spot Nifty of NSE India closed at 5456.55 behind 60.25 points from its previous close.

Nifty Futures settled at 5467.45 down 65.50 points (-1.20%). Now technically below 5440 it may see some more lower levels. Below the same Nifty could touch 5427 and even 5400 levels.
For the upside 5493 would ac as crucial level. Above the same Nifty may catch some could upside momentum again towards 5520-5555 levels for near term.

Day Traders are advised to sell Nifty Below 5440 to target 5425-5410-5400.
else above 5490 buy Nifty TG- 5510-5535-5550

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