NIFTY AFTER 8 DAYS OF CONSECUTIVE FALLS GOT A RESPITE AS BEARS ALLOWED THE BULLS TO MAKE A HIGHER LOW AT 5661 COMPARED TO THE LOW OF 5649 MADE ON FRIDAY. HOWEVER THE HIGH MADE ON MONDAY AT 5721 WAS MUCH LOWER THAN THE PREVIOUS HIGH OF 5761 OF FRIDAY, BUT THE ONLY CONSOLATION FOR THE BULLS BEING THEY COULD MANAGE A MILDER HIGHER CLOSING AT 5685 COMPARED TO THE LOWER CLOSING OF 5678 ON FRIDAY. THIS MINISCULE HIGHER CLOSING OF 7 POINTS HAS INFUSED A LOT OF SPIRITS AMONGST THE BULLS TO AIM FOR SOME MORE HIGHER LEVELS IN NEXT FEW DAYS BUT ONLY TO GIVE UP THE ENTIRE GAINS TO THE BEARS IN A SINGLE DAY AFTER A FEW DAYS.
AS LONG AS SPOT NIFTY SUSTAINS BELOW 5808 IT WILL CONTINUE TO REMAIN WEAK DURING THE CURRENT WEEK AND FOR TUESDAY AS LONG AS SPOT NIFTY SUSTAINS BELOW 5720 & FAILS TO CLOSE A 30 MINUTE CANDLE ABOVE 5720, EVERY INTRADAY RISE OF SPOT NIFTY WILL MEET WILL RUTHLESS SHORTING. A CLOSURE OF A 30 MINUTE CANDLE ABOVE 5720 SPOT WILL TRIGGER MASSIVE SHORT COVERING TO PROPEL SPOT NIFTY TOWARDS MUCH HIGHER LEVELS. ON A FLAT TO MILDER SESSION ON TUESDAY, IN CASE OF A RISE OF SPOT NIFTY TOWARDS 5720 CAN BE USED TO TRADE SHORT WITH A SPOT LOSS ABOVE THIS LEVEL OF 5720 TO 5730 TO REVERSE FOR LONGS.
FOR INTRADAY TRADING OF NIFTY FUTURES ON TUESDAY, NIFTY FUTURES WHICH HAD CLOSED 5720 NEEDS TO BREACH AND SUSTAIN ABOVE 5762 BY HAVING A 30 MINUTE CANDLE CLOSE ABOVE IT TO MOVE UP TOWARDS MUCH HIGHER LEVELS ALTHOUGH A BREACH OF 5740 TO 5745 FUTURE ZONE MAY SEE INITIAL BOUT OF SHORT COVERING. SUSTAINING ABOVE 5762 CAN SEE NIFTY FUTURE MOVING UP TOWARDS THE NEXT LEVEL OF 5777 TO 5780 FOLLOWED BY 5790 OR EVEN 5800 LEVELS. HOWEVER A FAILURE TO BREACH AND SUSTAIN ABOVE 5762 OR EVEN INITIAL ZONE OF 5740 TO 5745 MAY SEE MASSIVE SHORTING ACTION BY INTRADAY TRADERS TO SEE NIFTY FUTURES SLIDING TOWARDS 5705 INITIALLY FOLLOWED BY THE CRITICAL 5695 TO 5690 ZONE. A DECISIVE SLIDE BELOW 5690 MAY SEE 5680 FOLLOWED BY EVEN 5665 TO 5660 FUTURE ZONE .
AS LONG AS SPOT NIFTY SUSTAINS BELOW 5808 IT WILL CONTINUE TO REMAIN WEAK DURING THE CURRENT WEEK AND FOR TUESDAY AS LONG AS SPOT NIFTY SUSTAINS BELOW 5720 & FAILS TO CLOSE A 30 MINUTE CANDLE ABOVE 5720, EVERY INTRADAY RISE OF SPOT NIFTY WILL MEET WILL RUTHLESS SHORTING. A CLOSURE OF A 30 MINUTE CANDLE ABOVE 5720 SPOT WILL TRIGGER MASSIVE SHORT COVERING TO PROPEL SPOT NIFTY TOWARDS MUCH HIGHER LEVELS. ON A FLAT TO MILDER SESSION ON TUESDAY, IN CASE OF A RISE OF SPOT NIFTY TOWARDS 5720 CAN BE USED TO TRADE SHORT WITH A SPOT LOSS ABOVE THIS LEVEL OF 5720 TO 5730 TO REVERSE FOR LONGS.
FOR INTRADAY TRADING OF NIFTY FUTURES ON TUESDAY, NIFTY FUTURES WHICH HAD CLOSED 5720 NEEDS TO BREACH AND SUSTAIN ABOVE 5762 BY HAVING A 30 MINUTE CANDLE CLOSE ABOVE IT TO MOVE UP TOWARDS MUCH HIGHER LEVELS ALTHOUGH A BREACH OF 5740 TO 5745 FUTURE ZONE MAY SEE INITIAL BOUT OF SHORT COVERING. SUSTAINING ABOVE 5762 CAN SEE NIFTY FUTURE MOVING UP TOWARDS THE NEXT LEVEL OF 5777 TO 5780 FOLLOWED BY 5790 OR EVEN 5800 LEVELS. HOWEVER A FAILURE TO BREACH AND SUSTAIN ABOVE 5762 OR EVEN INITIAL ZONE OF 5740 TO 5745 MAY SEE MASSIVE SHORTING ACTION BY INTRADAY TRADERS TO SEE NIFTY FUTURES SLIDING TOWARDS 5705 INITIALLY FOLLOWED BY THE CRITICAL 5695 TO 5690 ZONE. A DECISIVE SLIDE BELOW 5690 MAY SEE 5680 FOLLOWED BY EVEN 5665 TO 5660 FUTURE ZONE .
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