MARKETS FOR 4TH SEPTEMBER

NIFTY TRADED WEAK ON MONDAY & WAS RANGE BOUND WITHIN THE TIGHT RANGE OF 5295 TO 5243 SPOT LEVELS. ALTHOUGH IT DID NOT BREACH THE FRIDAYS LOWS OF 5239 ( OH, WHAT A MAGNANIMOUS EFFORT BY THE ROBUST INDIAN BULLS ! )  YET IT DID NOT BREACH FRIDAYS HIGH OF 5299 EITHER. HOWEVER IT CLOSED AT 5253 ON AVERAGING BASIS,  ALTHOUGH THE LAST PRICE WAS 5245. WITH DOW CLOSED ON MONDAY NIGHT, ALTHOUGH THE ADVERSE INFLUENCE MAY NOT
BE THERE FOR TUESDAY, YET ITS MASTER OPERATORS WILL USE THE REMOTE CONTROL TO MOVE ASIAN MARKETS. SO EXPECT  ANOTHER RANGE BOUND DAY WITH A NEGATIVE BIAS.

FOR INTRADAY TRADING PURPOSE, SPOT NIFTY MAY BE PULLED DOWN TOWARDS THE CRITICAL 50% LEVEL OF 5240  & EVEN BE MADE TO BREACH FRIDAYS LOWS OF 5239 SPOT TO GENERATE SOME PANIC, ONLY TO BE FOLLOWED BY A SMART RISE THAT MAY GENERATE SOME SHORT COVERING TO PROPEL NIFTY TOWARDS  MONDAYS HIGHS OF 5295 SPOT LEVELS TO ENCOUNTER A BARRAGE OF SHORTS FROM EXTERNAL OPERATORS TO PULL IT DOWN AGAIN TOWARDS 50% RETRACEMENT LEVEL OF 5240 ALMOST A REPEAT OF MONDAY BUT WITH A NEGATIVE BIAS. AS LONG AS SPOT NIFTY CONTINUES TO TRADE BELOW THE CRITICAL LEVEL OF 5313, SHORT ON EVERY RISE TOWARDS IT   WILL YIELD HANDSOME RESULTS  WITH A STOP LOSS ABOVE SPOT 5313  TO REVERSE FOR  GOING LONGS ONLY ABOVE 5313 SPOT.

IN THE DAILY CHARTS OF SPOT NIFTY THE LOWER BOLLINGER BAND IS AROUND 5225 FOLLOWED BY THE 89 DAYS EMA AROUND 5215. SO, IN CASE SPOT NIFTY IS MADE TO SLIDE BELOW THE 50% RETRACEMENT LEVEL OF 5239, THEN ONE MAY EXPECT SPOT NIFTY O SLIDE TOWARDS THE SUPPORT LINE AROUND 5200 TO 5210 THIS WEEK, WITH ADEQUATE DRINKS AND SNACKS BREAKS  FOR DOW OPERATORS AROUND THE LEVELS OF 5230 TO 5225 FOLLOWED BY 5215 TO 5205 SPOT ZONE TO EYE FOR THE FINAL DINNER AROUND THE 61.8% RETRACEMENT LEVEL AROUND 5191 POSSIBLY THIS WEEK IT SELF, AS DOW AFTER A DAY OF REST DUE TO LABOR DAY THERE WILL BE MADE TO SLIDE TO COMPENSATE FOR THE FRAUDULENT 100 POINT RISE OF FRIDAY.

IN CASE THE CRITICAL 50% RETRACEMENT LEVEL OF 5239 IS HELD BY THE CASTRATED  INDIAN BULLS( WHO HAVE BEEN MERCILESSLY WHIPPED LEFT & RIGHT BY THE EXTERNAL MANIPULATORS SINCE LAST 7 TO 10 DAYS), THEN THERE IS EVERY POSSIBILITY OF A RETEST OF MONDAYS HIGHS OF 5295 WHICH ALTHOUGH LOOKS HIGHLY UNLIKELY AT THIS JUNCTURE.  A DECISIVE BREACH OF SPOT 5269 TO 5277 ZONE MAY POSSIBLY GENERATE SOME HOPES FOR THE BULLS TO WASH THEIR  DROWSY FACE AROUND 5295 TO 5299 SPOT LEVELS  FAILING WHICH REPEAT OF THE MONDAYS SLIDE FOLLOWED BY THE BREACH OF 50% LEVEL OF 5239  TO SLIDE TOWARDS THE MENTIONED LOWER LEVELS IS A CERTAINTY.

FOR INTRADAY TRADING OF NIFTY FUTURES,  NIFTY FUTURE IS LIKELY TO MARCH LIKE GERMAN SOLDERS IN TRADING STEPS OF 5255, 5250, 5240 & 5235 FROM WHERE POSSIBLY TO BE COMMANDED FOR AN ABOUT TURN  TO MARCH LIKE CHINESE SOLDERS  IN SMALL & PROTRACTED  TRADING  STEPS TOWARDS 5288,5294, 5298 AND THEN SCRAMBLE HOME TOWARDS 5310 OR 5313 BUT ONLY TO ENCOUNTER A VOLLEY OF SHORTS FROM THERE. TILL SUCH TIME NIFTY FUTURE FAILS TO SUSTAIN ABOVE 5313 FUTURE LEVELS ANY RISE TOWARDS  THIS OR EVEN LOWER LEVELS OF 5305 CAN BE BOLDLY SHORTED BY HAVING A STOP LOSS ABOVE 5313 TO REVERSE FOR GOING LONG.


Source:Queens Trade