DURING THE WEEK ENDING 19TH JULY, SPOT NIFTY CLOSED AT 6029 ABOVE IT’S PREVIOUS WEEK ENDING 12TH JULY CLOSING OF 6009. THIS WEEKS CLOSING AT 6029 IS ALSO ABOVE THE HIGH OF LAST WEEK’S HIGH OF 6019. ALTHOUGH TECHNICALLY IT LOOKS LIKE A HIGHLY BULLISH SIGNAL FOR THE COMING WEEK, YET THE EXPIRY CONSIDERATIONS ON THURSDAY 25TH JULY POSSIBLY MAY DAMPEN THE MEGA BULLISH SPIRIT OF THE BULLS WHO HAVING TAKEN NIFTY SPOT UP FROM MONDAY’S RBI TRIGGERED LOWS OF 5911 TO FRIDAY’S HIGH OF 6066, MAY LIKE TO TAKE A PAUSE TO INDUCE THE BEARS TO INITIATE SOME SHORTING ACTION, ONLY TO BE TRAPPED LATER AFTER THE PAUSE IS OVER, THAT WILL FORCE THE BEARS TO AGAIN INDULGE IN SHORT COVERING TO TAKE THE MARKETS UP.
ALTHOUGH THE DAILY INDICATORS ARE SAFELY SAILING IN THE OVERBOUGHT ZONE, BUT THE HIGHLY BULLISH LOOKING WEEKLY INDICATORS MAY FORCE THE DAILY INDICATORS TO SLEEP IN THE OVERBOUGHT ZONE . ONLY THE HIGHLY OVERBOUGHT LOOKING INTRADAY INDICATORS MAY ATTRACT INTRADAY BEARS TO TAKE FULL ADVANTAGE OF IT BUT ONLY TO BE DISAPPOINTED TO BURN THEIR SHORTENED FINGERS LATER IF THEY DON’T BOOK THEIR PROFIT IN TIME. FOR MONDAY’S INTRADAY TRADING OF NIFTY FUTURES, EXPECT DAMPNESS IN INDIAN MARKETS TO BE WEAKENED BY WELL COORDINATED SGX NIFTY AND SOME ASIAN MARKETS. CHINESE MARKETS AS USUAL MAY BE FORCED TO LOOK WEAK TO INDUCE DAMPENED SPIRIT FOR SOME OF ASIAN MARKETS ON MONDAY MORNING. EVEN IF THERE IS AN INITIAL RISE IN INDIAN MARKETS IT WILL MEET WITH HEAVY SHORTING IN CASE NIFTY FUTURE AFTER APPROACHING TOWARDS 6060 OR TOWARDS FRIDAY’S HIGHS OF 6074 FALTERS IN BETWEEN & FAILS TO BREACH IT. IN CASE IT FALLS INITIALLY THEN THE CRITICAL SUPPORT AROUND 6010 TO 6000 MUST BE HELD BY TO BULLS TO AVOID SEEING A MASSACRE. ALTHOUGH SUSTAINING BELOW THE FUTURE LEVEL OF 6030 MAY BE THE GREEN SIGNAL FOR INTRADAY BEARS TO START THEIR SHORTING ACTION.
FOR MONDAY’S INTRADAY TRADING PURPOSE, NIFTY FUTURES FAILING TO SUSTAIN ABOVE 6030 CAN BE SUITABLY USED TO TRADE SHORT FOR QUICK GAINS TOWARDS 6010 TO 6005 . IN CASE BULLS SHOW LETHARGY AROUND 6000 FUTURE LEVELS THEN BEARS CAN EVEN PULL NIFTY FURTHER DOWN TOWARDS 5989 TO 5985 ZONE BELOW WHICH 5970 TO 5966 IS A CERTAINTY. HOWEVER IN CASE 6030 FUTURE LEVEL HOLDS AFTER THE INITIAL SGX INDUCED JERKY DOWN SWING BELOW IT, THEN EXPECT NIFTY FUTURE TO MOVE UP TOWARDS TESTING FRIDAYS INTRADAY HIGH OF 6074, ALTHOUGH BULLS NEED SUMO POWER WITH STEROID INJECTIONS TO REACH AND BREACH FRIDAYS HIGHS. EVEN AN APPROACH TOWARDS 6060 TO 6065 MAY ENCOUNTER STIFF OPPOSITION FROM HUNGRY BEARS. SUSTAINING ABOVE THE 6060 TO 6065 FUTURE ZONE MAY SEE FIRST SIGN OF WEAKNESS AMONGST THE DISAPPOINTED BEARS WHO MAY INDULGE IN SHORT COVERING THAT MAY PROPEL NIFTY FUTURES TOWARDS FRIDAY’S HIGHS OF 6074. SUSTAINING ABOVE 6080 TO 6085 FUTURE ZONE MAY BRING IN THE 2ND BOUT OF SHORT COVERING TO EVEN SEE 6100 OR HIGHER FUTURE LEVELS TO PROVE THAT AT LEAST THE FULL MOON DAY WAS LUCKY FOR THE BULLS.
ALTHOUGH THE DAILY INDICATORS ARE SAFELY SAILING IN THE OVERBOUGHT ZONE, BUT THE HIGHLY BULLISH LOOKING WEEKLY INDICATORS MAY FORCE THE DAILY INDICATORS TO SLEEP IN THE OVERBOUGHT ZONE . ONLY THE HIGHLY OVERBOUGHT LOOKING INTRADAY INDICATORS MAY ATTRACT INTRADAY BEARS TO TAKE FULL ADVANTAGE OF IT BUT ONLY TO BE DISAPPOINTED TO BURN THEIR SHORTENED FINGERS LATER IF THEY DON’T BOOK THEIR PROFIT IN TIME. FOR MONDAY’S INTRADAY TRADING OF NIFTY FUTURES, EXPECT DAMPNESS IN INDIAN MARKETS TO BE WEAKENED BY WELL COORDINATED SGX NIFTY AND SOME ASIAN MARKETS. CHINESE MARKETS AS USUAL MAY BE FORCED TO LOOK WEAK TO INDUCE DAMPENED SPIRIT FOR SOME OF ASIAN MARKETS ON MONDAY MORNING. EVEN IF THERE IS AN INITIAL RISE IN INDIAN MARKETS IT WILL MEET WITH HEAVY SHORTING IN CASE NIFTY FUTURE AFTER APPROACHING TOWARDS 6060 OR TOWARDS FRIDAY’S HIGHS OF 6074 FALTERS IN BETWEEN & FAILS TO BREACH IT. IN CASE IT FALLS INITIALLY THEN THE CRITICAL SUPPORT AROUND 6010 TO 6000 MUST BE HELD BY TO BULLS TO AVOID SEEING A MASSACRE. ALTHOUGH SUSTAINING BELOW THE FUTURE LEVEL OF 6030 MAY BE THE GREEN SIGNAL FOR INTRADAY BEARS TO START THEIR SHORTING ACTION.
FOR MONDAY’S INTRADAY TRADING PURPOSE, NIFTY FUTURES FAILING TO SUSTAIN ABOVE 6030 CAN BE SUITABLY USED TO TRADE SHORT FOR QUICK GAINS TOWARDS 6010 TO 6005 . IN CASE BULLS SHOW LETHARGY AROUND 6000 FUTURE LEVELS THEN BEARS CAN EVEN PULL NIFTY FURTHER DOWN TOWARDS 5989 TO 5985 ZONE BELOW WHICH 5970 TO 5966 IS A CERTAINTY. HOWEVER IN CASE 6030 FUTURE LEVEL HOLDS AFTER THE INITIAL SGX INDUCED JERKY DOWN SWING BELOW IT, THEN EXPECT NIFTY FUTURE TO MOVE UP TOWARDS TESTING FRIDAYS INTRADAY HIGH OF 6074, ALTHOUGH BULLS NEED SUMO POWER WITH STEROID INJECTIONS TO REACH AND BREACH FRIDAYS HIGHS. EVEN AN APPROACH TOWARDS 6060 TO 6065 MAY ENCOUNTER STIFF OPPOSITION FROM HUNGRY BEARS. SUSTAINING ABOVE THE 6060 TO 6065 FUTURE ZONE MAY SEE FIRST SIGN OF WEAKNESS AMONGST THE DISAPPOINTED BEARS WHO MAY INDULGE IN SHORT COVERING THAT MAY PROPEL NIFTY FUTURES TOWARDS FRIDAY’S HIGHS OF 6074. SUSTAINING ABOVE 6080 TO 6085 FUTURE ZONE MAY BRING IN THE 2ND BOUT OF SHORT COVERING TO EVEN SEE 6100 OR HIGHER FUTURE LEVELS TO PROVE THAT AT LEAST THE FULL MOON DAY WAS LUCKY FOR THE BULLS.
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