NIFTY – EOD 27.08.2012 …what next ???

Nifty faces resistances at 5440 – 5450 at upper bollinger band area and overbought on hourly charts.

Political Concerns today made nifty to correct but it did not break 5350 physiological support and earlier breakout level .

Next u can see the chart as supports are given and whenever there is even nifty first retrace to earlier support in our case 5342-5315-5270-65… the case may be before FED meeting on QE3 possibilities.

I am bullish on FII inflows as once they will show nifty 5550-5750-5800 and further to 6100 unless 5230 is not violated on closing basis.