Nifty Tips for today 17 August 2011

Nifty was again on bear trend and closed at 5035 .Today the first resistance for nifty is at 5050-53 level.Next resistance is at 5066-70 level.Next resistance is at 5096-01 level.Next resistance is at 5151-55 level.Next resistance is at 5174-78 level.Next resistance is at 5191-96 level.Next resistance is at 5215-20level.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 5002-97 level.Next support is at 4970-65 level.Next support is at 4946-42 level.Next support is at 4919-15 level.Next support is at 4898-95 level.Next support is at 4847-41 level. Next support is at 4788-82 level.The nifty is clearly in bear grip and bulls have no hope till nifty closes above 5200 ans be very cautious a move below 4995 may pull down nifty to new lows.SO today the main hurdle on upside are at 5070 and 5102 level and supports are at 4997and 4965 level.


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