NIFTY PRESENTLY IS UNDER THE GRIP OF POWERFUL BEARS AND EVERY INTRADAY RISE MAY SEE RUTHLESS SHORTING AS LONG AS SPOT NIFTY CONTINUES TO TRADE BELOW 5808. A CLOSE ABOVE 5808 CAN ONLY BRING SOME HOPES FOR THE BULLS THAT PERHAPS THE DOWN SWING HAS TEMPORARILY HALTED IF NOT ENTIRELY.
WITH THE WEEKLY TECHNICAL INDICATORS STILL LOOKING WEAK, THE OVERSOLD LOOKING DAILY INDICATORS MAY BOW DOWN TO THE WEEKLY INDICATORS WHICH MAY RESULT IN CONTINUATION OF THE DOWN SWING AFTER A DAY OR TWO OF MILD OR FLAT DAYS & IN CASE SPOT NIFTY BREACHES & MORE IMPORTANTLY CLOSES BELOW 24TH JUNE LOWS OF 5566 THEN BE ABSOLUTELY SURE THAT NIFTY SPOT NOT ONLY WILL TEST BUT ALSO WILL BREACH 10TH APRIL LOWS OF 5477 FOR MUCH BIGGER DOWN SIDE LEVEL DURING THE MARKET DROWNING MONTH OF AUGUST. THE NEW MOON CYCLE STARTING FROM 6TH AUGUST WILL GIVE A CLEAR HINT AS TO WHICH WAY INDIAN MARKETS WILL MOVE EVEN THOUGH WEEKLY TECHNICAL INDICATORS CLEARLY POINT TOWARDS A BIGGER SLIDE. FOR GOING UP , NIFTY SPOT MUST BREACH AND CLOSE ABOVE 5808 ON ANY OF THE COMING DAYS & FOR BIGGER SLIDE SPOT NIFTY MUST BREACH AND CLOSE BELOW 5566.
FOR INTRADAY TRADING OF NIFTY FUTURES ON MONDAY 5TH AUGUST, ONE SHOULD EXPECT A RETRACEMENT BOUNCE AFTER 8TH CONSECUTIVE DAYS OF FALLS. NIFTY FUTURES WHICH HAD CLOSED AT 5700 ON FRIDAYS NEEDS TO SUSTAIN ABOVE FRIDAY’S LOWS OF 5680 TO 5675 FUTURE ZONE IN ORDER TO SURVIVE ANOTHER DAY OF BEAR ONSLAUGHT. IF NIFTY FUTURES FAILS TO SUSTAIN ABOVE 5675 THEN IT CAN SLIDE TOWARDS 5660 FOLLOWED BY 5640 TO EVEN THREATEN 5600 IN A DAY OR TWO. SIMILARLY ON THE HIGHER SIDE A GOOD GAP UP OPENING BUT MAINTAINING THE GAP & SUSTAINING ABOVE IT CAN SEE NIFTY FUTURES MOVING UP TOWARDS 5725 FOLLOWED BY 5740 ABOVE WHICH EVEN 5760 FUTURE LEVELS ARE POSSIBLE. IN CASE OF BIGGER UP MOVE THE INITIAL GAP UP OPENING HAS TO BE ABOVE 5725 AND NIFTY FUTURES MUST SUSTAIN ABOVE IT TO EVEN SEE HIGHER LEVELS OF 5775 TO 5790 LEVELS TO BE WELCOMED BY THE NEW MOON STARTING FROM TUESDAY 6TH AUGUST.
WITH THE WEEKLY TECHNICAL INDICATORS STILL LOOKING WEAK, THE OVERSOLD LOOKING DAILY INDICATORS MAY BOW DOWN TO THE WEEKLY INDICATORS WHICH MAY RESULT IN CONTINUATION OF THE DOWN SWING AFTER A DAY OR TWO OF MILD OR FLAT DAYS & IN CASE SPOT NIFTY BREACHES & MORE IMPORTANTLY CLOSES BELOW 24TH JUNE LOWS OF 5566 THEN BE ABSOLUTELY SURE THAT NIFTY SPOT NOT ONLY WILL TEST BUT ALSO WILL BREACH 10TH APRIL LOWS OF 5477 FOR MUCH BIGGER DOWN SIDE LEVEL DURING THE MARKET DROWNING MONTH OF AUGUST. THE NEW MOON CYCLE STARTING FROM 6TH AUGUST WILL GIVE A CLEAR HINT AS TO WHICH WAY INDIAN MARKETS WILL MOVE EVEN THOUGH WEEKLY TECHNICAL INDICATORS CLEARLY POINT TOWARDS A BIGGER SLIDE. FOR GOING UP , NIFTY SPOT MUST BREACH AND CLOSE ABOVE 5808 ON ANY OF THE COMING DAYS & FOR BIGGER SLIDE SPOT NIFTY MUST BREACH AND CLOSE BELOW 5566.
FOR INTRADAY TRADING OF NIFTY FUTURES ON MONDAY 5TH AUGUST, ONE SHOULD EXPECT A RETRACEMENT BOUNCE AFTER 8TH CONSECUTIVE DAYS OF FALLS. NIFTY FUTURES WHICH HAD CLOSED AT 5700 ON FRIDAYS NEEDS TO SUSTAIN ABOVE FRIDAY’S LOWS OF 5680 TO 5675 FUTURE ZONE IN ORDER TO SURVIVE ANOTHER DAY OF BEAR ONSLAUGHT. IF NIFTY FUTURES FAILS TO SUSTAIN ABOVE 5675 THEN IT CAN SLIDE TOWARDS 5660 FOLLOWED BY 5640 TO EVEN THREATEN 5600 IN A DAY OR TWO. SIMILARLY ON THE HIGHER SIDE A GOOD GAP UP OPENING BUT MAINTAINING THE GAP & SUSTAINING ABOVE IT CAN SEE NIFTY FUTURES MOVING UP TOWARDS 5725 FOLLOWED BY 5740 ABOVE WHICH EVEN 5760 FUTURE LEVELS ARE POSSIBLE. IN CASE OF BIGGER UP MOVE THE INITIAL GAP UP OPENING HAS TO BE ABOVE 5725 AND NIFTY FUTURES MUST SUSTAIN ABOVE IT TO EVEN SEE HIGHER LEVELS OF 5775 TO 5790 LEVELS TO BE WELCOMED BY THE NEW MOON STARTING FROM TUESDAY 6TH AUGUST.
No comments:
Post a Comment