Nifty Update for August 7 - Inder Bhatia

The Indian market opened gap-up but unable to sustain at higher levels, and hence profit booking was seen. As the Nifty had kissed its 100SMA at 4620, a reversal from there was expected, but it closed marginally up. For the coming session 4451 will act as support zone and 4630 will act a strong resistances zone. We can see some sideways or consolidation in the 4360-4600 zone .