MARKETS FOR 10TH AUGUST

 NIFTY FOLLOWING THE GREEN HAMMER OF LAST FRIDAY HAD A BIG GAP UP ON MONDAY FOLLOWED BY THE MONSTROUS  BULLISH CANDLE OF TUESDAY.  HOWEVER WEDNESDAY & THURSDAY SAW BEARISH CANDLES BEING FORMED WITH THE PIN BAR OF WEDNESDAY & THE BEARISH ENGULFING OF THURSDAY. INABILITY ON THE PART OF THE TIRED BULLS TO  HAVE A DAILY CLOSE ABOVE THE EARLIER SWING HIGH OF 5349 EVEN AFTER TAKING NIFTY AS HIGH AS 5377 ON WEDNESDAY & 5368 ON
THURSDAY, IS PERHAPS THE EARLY SIGNS OF BULL STRENGTH GETTING PETERED OUT EVEN THOUGH INTRADAY CHARTS ARE DEPICTING BULL FLAG FORMATIONS THAT ENCOURAGES INTRADAY TRADERS TO BUY THE INTRADAY DECLINES TILL SUCH TIME SPOT NIFTY SUSTAINS ABOVE THE SUPPORT LINE COMING TOWARDS 5282 LEVELS AS CAN BE SEEN IN THE INTRADAY CHART ABOVE.

LAST FRIDAY SPOT NIFTY HAS CLOSED AT 5227 AND ON THIS THURSDAY NIFTY SPOT IS AROUND 5323 MUCH HIGHER THAN THE CLOSING OF LAST WEEKS CLOSING THAT MAY NOT BE RELISHED WELL BY THE OPERATORS WHO MAY TRY THEIR LEVEL BEST TO SEE THAT NIFTY SLIDES TOWARDS SUB 5300 TO GENERATE SOME PANIC ALONG WITH THE WEEKEND PHOBIA AMONGST THE WEAKER HANDS TO PULL NIFTY DOWN TOWARDS THE SUPPORT LINE. OLD FINANCIAL CHANNELS  ALONG WITH FOREIGN SWINDLERS & FRAUDULENT RATING AGENCIES WILL ALSO ADD THEIR AS USUAL QUOTA OF MISERY BY PLANTING MARKET HARASSING NEWS TO SEE THAT INDIAN MARKETS DO NOT MOVE UP MUCH FROM HERE  & IS PULLED DOWN TO THEIR PLANNED BUYING LEVELS.

ALTHOUGH AFTER THE  EXPIRY DAY MANIPULATED LOW OF 5032,  NIFTY HAS MOVED UP TO A HIGH OF 5377 IN QUICK TIME AND IS RIPE FOR A PAUSE IN THE FORM OF A FLAT OR AN ‘ABC’ DOWNWARD ZIGZAG, IT  NO WAY LOOKS TIRED EVEN AT THIS STAGE AND PERHAPS AFTER THE WELL DESERVED PAUSE MAY SPRING INTO ACTION AGAIN TOWARDS MUCH HIGHER LEVELS. THE KEY LEVELS TO NOTE FOR SPOT NIFTY ARE THE ZONE 0F 5313 TO 5300 FOLLOWED BY THE MONDAYS GAP LOW OF 5262. AS LONG AS THESE LEVELS ARE WELL GUARDED BY THE BULLS, THEY MAY BE REST ASSURED OF THE CONTINUANCE OF THE ONGOING UP MOVE FAILING WHICH THEY MAY HAVE TO GO FOR A FORCED ASYLUM THAT MAY SEE THE BEARS RULING THE MARKETS FOR NEXT FEW DAYS.

MOVING UP AGAINST ALL THE ODDS TO SUSTAIN ABOVE 5353 SPOT INITIALLY FOLLOWED BY SUSTAINING ABOVE THE MORE IMPORTANT SPOT NIFTY LEVELS OF   5370 TO 5377 CAN CERTAINLY PUT THE BEARS OUT OF GEAR WHO MAY FIND NO ALTERNATIVE OTHER THAN COVERING THEIR SHORTS EVEN THOUGH THE WEEKEND PHOBIA FOLLOWED BY THE MOST LIKELY FRIDAY NIGHT’S KNOCKOUT PUNCH ARE STRONG POSSIBILITIES FAVORING THE BEARS. SO ON FRIDAY IF ONE SEES SPOT NIFTY UNABLE TO CROSS THESE LEVELS THEN ONE MAY GO ON A SHORTING RAMPAGE WITH STOP LOSSES ABOVE THESE LEVELS TO BE IN LINE WITH THE OPERATORS ACTIONS.

FOR INTRADAY TRADING OF NIFTY FUTURES, ONE MAY EXPECT A FLAT TO WEAKER OPENING INDUCED BY THE OPERATOR INFECTED SGX NIFTY OR  PRE MARKET ADVERSE NEWS FLOW FROM THE OLD FINANCIAL CHANNELS. NIFTY FUTURE WHICH ON THURSDAY HAD CLOSED AT 5358 FINDS  INITIAL SUPPORT AROUND 5335 TO 5325 FUTURE ZONE  SUSTAINING BELOW WHICH ONE MAY SEE A STONE LIKE FALL AS MOST OF THE INTRADAY TRADERS WOULD PLAN TO GO LONG ON APPROACH OF NIFTY FUTURES TOWARDS 5335 TO 5325 ZONE & HAVE THEIR STOP LOSSES BELOW THIS ZONE TO REVERSE AND GO SHORT BELOW THIS ZONE.

SIMILARLY ON THE HIGHER SIDE IN CASE NIFTY FUTURE SUSTAINS ABOVE 5368 THEN THERE IS EVERY POSSIBILITY OF NIFTY FUTURES MOVING HIGHER TOWARDS THE CRITICAL FUTURE ZONE OF 5378 TO 5388 TO INDUCE MASSIVE SHORT COVERING TO SEE NIFTY FUTURES MOVING UP TOWARDS MUCH HIGHER LEVELS OF 5404 TO AGAIN FACE THE MULTI BARREL RAPID FIRE FROM THE OPERATORS & WAITING BEARS.