As per daily and weekly nifty chart analysis we are reaching at the view that Gap down opening is expected …5450 is strong support if broken with volumes next support is lying at 5340 50…if supported at 5450 and reversed its direction in that case market will move towards 5750 6100 …both possibilities are there as on the basis of only 1 large candle we can not assume that trend is bearish . Though it is true that below 5500 nifty is weak but pull back in same manner can not be ruled out . So best way is spot the trend /wave and ride on it do not carry loosing position on expectations / emotions .Read more at http://clientsviews.blogspot.in/2013/08/chat-history-upto-9-pm-13-aug-13.html
Gap is there and pivot is also there so after gap down opening both gap filling is possible if this gap wont filled soon 5450 5500 level will start working as very strong resistance and market may trade even below 5350 5000 4700.
Trade in Nifty futures as per these levels
Buy at / above: 5476 Targets: 5491 – 5510 – 5528 – 5547
Stoploss : 5457
Sell at / below: 5457 Targets: 5441 – 5423 – 5404 – 5386
Stoploss : 5476
weekly chart is showing that 5350 is very gud support for nifty ..
Nifty analysis as per eod and weekly chart 19 Aug 13