FOR THURSDAY’S INTRADAY TRADING, EXPECT A GAP DOWN OPEN INDUCED BY DOW OPERATORS WHO WILL ENSURE THAT ASIAN MARKETS FALL SO THAT THESE OPERATORS CAN BUY ASIAN MARKETS ON DECLINES. THIS WEAKNESS IN ASIAN MARKETS WILL HAVE A NEGATIVE IMPACT ON INDIAN MARKETS TO OPEN GAP DOWN TO BE FOLLOWED BY A BIG RISE. NIFTY FUTURES FINDS INITIAL SUPPORT AROUND 5784 TO 5774 BELOW WHICH IT CAN SLIDE TOWARDS THE SUPPORT LINE AROUND 5760 AS CAN BE SEEN IN THE INTRADAY CHART.
MOST LIKELY NIFTY FUTURES SHOULD BOUNCE UP FROM 5760 LEVELS. HOWEVER A FAILURE TO SUSTAIN ABOVE 5760 MAY SEE FURTHER FALLS AS WEAKER HANDS WOULD PREFER TO QUIT THEIR LONGS TO ALLOW EXTERNAL OPERATORS TO BUY. BELOW 5760 FUTURE LEVELS, NIFTY FUTURE MAY SLIDE TOWARDS 5744 FOLLOWED BY 5733 WITH VERY LOW VOLUME THAT WILL ENCOURAGE ONE TO BOLDLY BUY FROM HERE. AS LONG AS FUTURE LEVEL OF 5711 TO 5700 IS HELD BY THE BULLS, THIS DOW OPERATOR INDUCED FALL IS A VERY GOOD BUYING OPPORTUNITY.
MOST LIKELY NIFTY FUTURES SHOULD BOUNCE UP FROM 5760 LEVELS. HOWEVER A FAILURE TO SUSTAIN ABOVE 5760 MAY SEE FURTHER FALLS AS WEAKER HANDS WOULD PREFER TO QUIT THEIR LONGS TO ALLOW EXTERNAL OPERATORS TO BUY. BELOW 5760 FUTURE LEVELS, NIFTY FUTURE MAY SLIDE TOWARDS 5744 FOLLOWED BY 5733 WITH VERY LOW VOLUME THAT WILL ENCOURAGE ONE TO BOLDLY BUY FROM HERE. AS LONG AS FUTURE LEVEL OF 5711 TO 5700 IS HELD BY THE BULLS, THIS DOW OPERATOR INDUCED FALL IS A VERY GOOD BUYING OPPORTUNITY.
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