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MARKETS FOR TUESDAY 03 SEPTEMBER

NIFTY SAW A BIG BREAKOUT MOVE ON MONDAY AND STILL MUCH MORE UPSIDE IS IN THE WAITING TO COME AFTER AN EXPECTED PAUSE. EVEN THOUGH NIFTY HAS MOVED UP FOR FOUR DAYS IN A ROW, THERE IS EVERY POSSIBILITY OF MORE RISE THAT ENCOURAGES TRADERS TO LOOK FOR AN INTRADAY DECLINE TO BUY FOR GOOD GAINS. SPOT NIFTY HAS CLOSED AROUND 5550 ON MONDAY, A MANIPULATED FALL TOWARDS 5500 SHOULD BE USED TO BUY FOR GOOD INTRADAY GAINS WITH A STOP LOSS . SPOT NIFTY SUSTAINING ABOVE 5460 OR 5454 INVITES HEAVY BUYING ON DECLINES BY HAVING STOP LOSS BELOW THESE LEVELS.

FOR NIFTY FUTURE’S TRADING ON TUESDAY, EXPECT ANOTHER GAP UP OPENING IF THE HIGH CLOSING OF MONDAY WAS NOT A BULL TRAP TO TRAP THE HALF HEARTED BULLS WHO CARRIED LONGS. OTHER THAN THE INITIAL ERRATIC JUMP, SUSTAINING ABOVE MONDAY’S HIGH OF 5568 FUTURE LEVELS CAN SEE SHORT COVERING TO AGAIN LIFT NIFTY FUTURE TOWARDS 5590 FOLLOWED BY 5616 & THEN 5646 FUTURE LEVELS. FAILURE TO BREACH & MORE IMPORTANTLY SUSTAIN ABOVE 5590 OR EVEN ABOVE MONDAYS HIGH OF 5568 WILL SEE INTRADAY SHORTING TO PULL NIFTY FUTURES DOWN TOWARDS 5525 TO 5520 INITIALLY & AFTER DISPLAY OF SOME GLORIOUS RETREAT BY THE WEAKER BULLS, NIFTY FUTURE MAY SLIDE DOWN TOWARDS SUB 5500 FOLLOWED BY EVEN 5464 FUTURE LEVELS. EXPECT A GOOD JUMP UP IN CASE INTRADAY DECLINE TOWARDS 5525 TO 5520 IS REPELLED BY THE BULLS WITHOUT DECISIVELY BREACHING THIS ZONE.


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