Gap down opening of approximately 1 % is expected in Nifty
US stocks had posted one of the biggest losses in the recent time owing to poor results and outlooks from Dow components Wal-Mart and Cisco yesterday and fear of 1 % gap down is there for Nifty ..sell on rise and book profits at swing low till trading below 5715 keep sl around 5733
Trade in Nifty Futures as per these levels for intra day trades
Buy at / above: 5716 Targets: 5733 – 5752 – 5773 – 5792
Stoploss : 5698
Sell at / below: 5698 Targets: 5682 – 5665 – 5646 – 5627
Stoploss : 5716
5715 and 5682 are levels very crucial if 5682 will be broken with volumes nifty will not easily recover and if moved up above 5715 with volumes no turning down so we can say that zone between 5682 -5715 is traders action zone and in this zone vary cautious view and trades to be executed with proper and strict stoploss.
: Foreign investors seem to be increasingly wary about investing in India as the Reserve Bank of India battles to stem the rupee’s plunge and stop capital outflows that are pushing India toward its biggest crisis in more than two decades.
On Wednesday, RBI Governor Duvvuri Subbarao tightened rules on overseas investments to prop up the rupee. He cut the amount Indian companies can invest overseas without seeking approval to 100 percent of their net worth, from 400 percent. The move is expected to scuttle plans the Aditya Birla Group, Apollo Tyres and Cipla had to invest abroad. Indians can only remit $75,000 a year versus the previous $200,000 limit.
“It’s fire-fighting to save the rupee, but where does it leave my investments if the Indian government suddenly introduces new controls in the future that restrict me from repatriating my profits,” said Boston-based medical equipment manufacturer Harvey Kirpatrick.
“It really gives me pause. It’s worrying because the move reverses the relatively long-term trend of easing capital controls.”
Crude advised to sell below 6550 and traded below 6460 call was like this
email@example.com (8/14/2013 11:56:13 AM): sell crude 6536 _6550 sl 6562 target 6512 6484 6454
gap down in nifty on 16 Aug 13