MARKETS FOR TUESDAY 13TH AUGUST

 NIFTY AFTER THE BULLISH ENGULFING OF THURSDAY, CLOSED  MONDAY WITH A DOJI CANDLE THAT MAY GIVE ENOUGH AMMUNITION IN THE HANDS OF BEARS TO SHORT THE MARKETS IN CASE NIFTY SPOT FAILS TO BREACH  MONDAY’S DOJI HIGH OF 5644  LEVELS. SIMILARLY A DECISIVE BREACH OF THE SAME DOJI LOW OF 5555 SPOT MAY CONVERT THE BULLS INTO BEARS TO PULL NIFTY FURTHER DOWN. WELL FULL ADVANTAGE OF THIS DOJI GAME WILL BE TAKEN BY SGX PLOTTERS TO PULL SGX NIFTY DOWN INITIALLY TO TRIGGER A BEARISH SENTIMENT AT THE START BUT ONLY TO PULL NIFTY UP AGAIN UPWARDS TO BREACH & RETEST MONDAY’S HIGHS.

SO MONDAY’S  LAST SESSION PULL DOWN OF NIFTY MAY CONTINUE ON TUESDAY ALSO TO BE FOLLOWED BY A PULL UP TOWARDS MONDAYS HIGHS IN CASE THE HIGH IS NOT TESTED INITIALLY. ALTHOUGH 13TH AUGUST LOOKS TO BE A DISASTROUS DATE  YET THE TECHNICALS DO NOT LOOK  THAT DANGEROUS FOR THE MARKETS. AT THE WORST CASE ANOTHER DOJI OR MILD FLAT DAY MAY BE SEEN FOR TUESDAY ENCOURAGING ONE TO PLAY INTRADAY BY SHORTING  THE RISE TOWARDS 5665 SPOT  AND BUYING THE SLIDE IF AT ALL IT COMES TOWARDS 5550 SPOT.

NIFTY FUTURES WILL GAIN STRENGTH IN CASE IT IS ALLOWED TO BREACH & SUSTAIN ABOVE 5636  & THEN ABOVE 5650 TO EYE FOR THE 5670 FUTURE LEVELS. SIMILARLY ON THE LOWER SIDE , NIFTY FUTURES MAY TURN WEAK BELOW 5580 O TEST 5565 FOLLOWED BY 5550 TO 5545 FUTURE ZONE