MARKET OUTLOOK 26-08-2014

Posted By : Kishore B.S

Dear All,

Nifty has been showing a oscillating movement, with the ‘rising wedge’ pattern and is gradually approaching the upper end of it. Multiple highs around 7930 indicates immediate hurdle around the same and upside may remain capped to 8050. However, medium term support exists around 7620 and unless that is breached the index may remain in a consolidation mode.

Cheers!!
Team SMI

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