Yesterday Nifty tried to trade above 20 EMA but failed to recapture it . Today it may trade below 50 DMA .
Its in short term downtrend and resistances are at 5450- 5480 and supports are at 5300-5350.
On the up side Hotel Stocks may see some interest on the back of EIH and RIL deal.
EI Hotels has support at 137 and resistances are at 172-200.
Tuesday, August 31, 2010
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