Nifty tips for Today 12 August 2011

Nifty was on bear trend and closed at 5138 .Today the first resistance for nifty is at 5154-58 level.Next resistance is at 5174-79 level.Next resistance is at 5197-03 level.Net resistance is at 5228-32 level.Next resistance is at 5248-53 level.Next resistance is at 5322-26 level.Next resistance is at 5343-48 level.Next resistance is at 5382-86 level.Next resistance is at 5409-13 level.Next resistance is at 5428-33 level.Next resistance is at 5486-91 level. On downside first support is at 5122-17 level.Next support is at 5103-98 level.Next support is at 5074-70 level.Next support is at 5054-50 level.Next support is at 4949-45 level.Next support is at 4898-95 level.Next support is at 4847-41 level. Next support is at 4788-82 level.As told yesterday the nifty wil have stiff resistance between 5230 and 5331 level So if the trend had to change to bull side a strong close above 5330 is required So today the main hurdle for intraday will be at 5174-79 and 5197-203 level and on downside if below 5100 be very alert and below 5050 sellers will again take the control.

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