Nifty levels 05 August 13 : gap Down opening

Gap down will be there at support level which may turn in resistance if selling comes .stay for real time updates at http://dhanvarsha.in/chatroom/

Bullish harami spotted at EOD chart trading at lower trend line support …

OI data for nifty futures is showing that OI is decreasing as nifty is falling day by day and fresh short buildup is not there means only forced long unwinding is there …After 30 July, OI is decreasing with fall in nifty- is indicating that this fall is not supported by majority of traders seems  manipulated , rule is  OI must increase with the direction of move for healthy trend

so as and when bulls will get opportunity they will buy for sure.

Bank nifty is giving reversal signals and may move towards North at any moment ..BN charts are gud for bottom fishing

Axis bank already started and trading well above 100 points from its recent low .

Sgx nifty is trading at pivot level next PP is  located at 5574  and then 5494 so 5670 -75 may work as strong level …do not  act in panic at 5665  -85  future range …go long above 5685  if start moving towards upside from below ..and go short below 5670  if break down with volumes will be spotted . Both possibilities are open at this juncture .

Trade in Nifty Futures as per these levels 

Buy at / above: 5687   Targets: 5699 – 5718 – 5737 – 5759
Stoploss : 5666
Sell at / below: 5666   Targets: 5644 – 5625 – 5607 – 5591
Stoploss : 5687

 

 

 

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Nifty levels 05 August 13 : gap Down opening