MARKETS FOR 14TH AUGUST

THE RISE ON MONDAY AFTER THREE DAYS OF PAUSE SEEMS TO BE THE INDICATION FOR THE RESUMPTION OF THE UP MOVE. HOWEVER AS LONG AS SPOT NIFTY IS UNABLE TO CLOSE ABOVE THE EARLIER SWING HIGH OF 5349 ONE NEED NOT BE SURE OF THE UP MOVE. A DECISIVE BREACH OF 5377 SPOT  AND A CLOSE ABOVE THIS 5377 SPOT ZONE ONLY WILL CONFIRM THAT MUCH MORE UP MOVE IS IN STORE FOR NIFTY
. ON MONDAY NIFTY HAS CLOSED AT 5347 JUST A SHADE ABOVE THE EARLIER CLOSING SWING HIGH OF 5345 THAT GENERATES MILD HOPE FOR FURTHER UP MOVE BUT WITH THE HOLIDAY ON WEDNESDAY ONE CAN NOT EXPECT A RESOUNDING UP MOVE ON TUESDAY. AS CAN BE SEEN IN THE HOURLY CHART ABOVE  THE INDICATORS ARE STILL IN THE BULLISH MODE. MACD  IS FORMING A HOOK AROUND THE NEUTRAL LINE THAT CAN TRIGGER A MEGA UP MOVE  IN A DAY OR TWO.

FOR FUTURE TRADERS, NIFTY FUTURE LEVELS OF 5345 TO 5340 OFFER GREAT BUYING OPPORTUNITY WITH A STOP LOSS BELOW THIS CRITICAL ZONE TO REVERSE FOR MERCILESS SHORTS TO SEE 5320 OR LOWER LEVELS. SIMILARLY ON THE HIGHER SIDE, FAILURE ON THE PART OF BULLS TO TAKE NIFTY FUTURES ABOVE 5395 TO 5399 ZONE CAN BE BRUTALLY SHORTED WITH STOP LOSS ABOVE THIS ZONE TO REVERSE FOR TRADING LONGS. ALTHOUGH BREACHING & MORE IMPORTANTLY SUSTAINING ABOVE FUTURE LEVEL OF 5396 MAY BE REALLY TOUGH  ON TUESDAY, YET IF THAT HAPPENS THEN EXPECT  A SHARP UPWARD JUMP IN NIFTY FUTURES AS IT WILL TRIGGER MASSIVE SHORT COVERING TO SEE MUCH HIGHER LEVELS TOWARDS 5415 OR EVEN HIGHER FUTURE LEVELS.