Flat to positive opening is expected with mixed sentiments as India’s exports climbed 13% to $26 billion in August and imports fell marginally as gold imports stalled, helping trim the trade deficit to just under $11 billion and provide much-needed support to policymakers battling to shore up the rupee and Nifty spot moved up by 800 or more points in last 8 sessions trade…yesterday cleared 200 day moving average and closed well above it . 5950 is pivot level as per eod chart , 6000 is resisted by falling trend line these are 2 crucial levels which may create troubles for bulls and a healthy correction can be seen at any moment so be cautious at these nifty spot levels .
It was shared “ 2 hammers at weekly chart proved their credibility 5808 is bunch of resistances if breached then Nifty will trade at 5950 before Friday. ” at http://dhanvarsha.in/nifty-daily-weekly-outlook-10-sept-13/
Some times contra trades work work well as for axis http://dhanvarsha.in/axis-bank-selling-advised-at-1015/
it moved down by 35 points .
Trade deficit in August was the lowest since $10.3 billion in March as gold imports declined from $2.2 billion July to $650 million in August, commerce & industry minister Anand Sharma said at a press conference. “The fall in gold imports is not an aberration. It is going down consistently and I expect the trend to continue,” he added. However, crude petroleum imports rose nearly 18% to $151 billion in August as the rise in prices pushed up the bill.
Simultaneously, with the economic situation improving in the West, exports have started rising, prompting the government to talk of a reversal in fortunes. After all, this was the second straight month when the value of shipments out of the country rose at double-digit rates. “All sectors, with a significant share in the export basket, have shown positive growth, barring jewellery. Our concern was engineering, which has returned to positive territory,” commerce secretary S R Rao told reporters. http://timesofindia.indiatimes.com/business/india-business/Exports-up-13-trade-deficit-narrows/articleshow/22473892.cms
Trade in Nifty futures as per these levels
Buy at / above: 5922 Targets: 5945 – 5964 – 5983 – 6003
Stoploss : 5898
Sell at / below: 5898 Targets: 5874 – 5855 – 5836- 5804
Stoploss : 5922
Stay logged in at chat room Dhanvarsha http://dhanvarsha.in/chatroom/ if opening problem refresh page 2 or three times as server creating problems we feel . open it in Google chrome as it is best at chrome than IE.
Crude oil trade with logical explanation worked well as per prediction
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positive or negative take on nifty 11 Sept 13