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In the week starting from 10August, Nifty fut will face resistance at 4524-4562, if nifty crosses these levels and sustains above these then we can see Nifty inching higher upto the levels of 4592-4628-4682. For any further uprise Nifty fut must sustain and close above the level of 4628, and if this happens ext resistance levels will be 4682-4710-4754-4790. However if Nifty fut is unable to cross the resistance levels of 4524-4562, then we can see it again sliding down to 4444-4402-4370 levels. Any close below 4370 can open doors for 4334-4268-4230 levels. However, 4400 can act as trend reversal level on lower side, so one must keep watch on this levels for any long positions. Nifty range for the week will be 4402-4628,breakout on eitherside will lead to sharp movement.
We recommend all traders/Investors to keep watch on 4400 level on lower side and 4628 level on upper side, for the long/short positions. These levels can play crucial rols in the markets. market movement for the coming week will be ambiguous,and so one must not leverage positions. However one can buy on dips till 4400 level is not breached and can book long positions on uprise if Nifty finds it difficult to cross 4628 level on upper side.
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