MARKETS FOR 23RD AUGUST

NIFTY FOR NEXT COUPLE OF DAYS IS LIKELY TO BE IN A PAUSE MODE THAT WILL HELP INTRADAY TRADERS TO  GAIN BY SELL ON RISE PRINCIPLE. HOWEVER THIS PAUSE OR LOSS OF MOMENTUM IN THE MARKETS IS A PRE CURSER TO ANOTHER BIG MOVE AFTER THE PAUSE IS OVER. SO, FOR INTRADAY TRADERS THE BEST PRINCIPLE IS TO WAIT FOR A RISE TOWARDS OR ABOVE THE PREVIOUS DAY’S HIGH TO INDULGE
IN RUTHLESS SHORTING & WAIT FOR A SLIDE TOWARDS OR BELOW PREVIOUS DAY’S LOWS  TO BOLDLY TRADE LONG FOR GOOD INTRADAY GAINS. THE OVERALL TREND IS BULLISH AND SUCH TYPE OF PAUSE FOR A COUPLE OF DAYS OFFERS THE  IDEAL OPPORTUNITY TO TRADE LONG AS LONG AS SPOT NIFTY CONTINUES TO TRADE ABOVE 5340. A CLOSE BELOW SPOT NIFTY LEVEL OF 5340 WILL BE THE INITIAL INDICATION FOR BIGGER FALLS.

FOR THURSDAYS INTRADAY TRADING PURPOSE, THERE IS EVERY POSSIBILITY OF INTRADAY DECLINE IN SPOT NIFTY  TOWARDS SUB 5400 & 5385 TO 5390 ZONE IS A GOOD SUPPORT ZONE FOR SPOT NIFTY TO ENCOURAGE INTRADAY TRADERS TO BUY WITH THE STOP LOSS AT A DISTANCE BELOW THIS ZONE TO REVERSE FOR SHORTING TOWARDS LOWER LEVELS OF 5370 TO 5360 SPOT LEVELS. GENERALLY A SLIDE OF SPOT NIFTY BELOW 5375 TO 5365  TO SUSTAIN BELOW IT WOULD WEAKEN THE INTRADAY BULLS TO SEE BIGGER SLIDE TO  THREATEN 5340 SPOT LEVELS.

SIMILARLY ON THE HIGHER SIDE, IN CASE SPOT NIFTY DOES NOT FALL TO SUSTAIN BELOW 5385 THEN ONE MAY PLAN LONG TRADES WITH THE STOP LOSS AND IN CASE BY CHANCE SPOT NIFTY RISES & MANAGES TO BREACH 5435 TO 5440 ZONE THEN THERE IS EVERY POSSIBILITY OF MUCH MORE UP MOVE TOWARDS 5455 TO 5460 SPOT LEVELS  THAT MAY ENCOURAGE BARRAGE OD SHORTS FROM ALL DIRECTIONS.  SO, TRADE SAFE & WAIT WITH PATIENCE TO ALLOW NIFTY TO COME TO YOUR LEVELS TO INITIATE TRADE & HAVE THE STOP LOSS AT A REASONABLE DISTANCE SO THAT YOU DON’T DEVELOP THE HABIT OF PRACTICING STOP LOSS CLEARANCE ONLY WITHOUT MAKING ANY ACTUAL GAINS.