| CMP |
5471.75
|
| Nifty Range |
5222 to 5722
|
| Pivot Point |
5410
|
| Turning Points |
5495/5392
|
| Positive Above |
5541
|
| Negative Below |
5403
|
| Bull Turning Point |
5609
|
| Bear Turning Point |
5334
|
Nifty has immediate Resistance at 5492 and then at 5504. Nifty must cross 5515 and stay above 5526 on Closing Basis to continue its Up-move. If Nifty manages to cross and decisively close above 5542, it may go up to 5556 – 5572 – 5586 - 5602. Further Up-move Levels will be 5616 – 5635 – 5652 - 5673.
Nifty has immediate Support at 5457 and then at 5433. If Nifty breaches 5419, it may go down to 5403 – 5389. Nifty will get weak below 5375 and may go down to 5351 – 5331 – 5318 - 5301. Further Down-move Levels will be 5282 – 5257 – 5241 – 5227.
Moving Averages
Average
|
20 Days
|
50 Days
|
100 Days
|
200 Days
|
SMA
|
5620
|
5757
|
5827
|
5846
|
EMA
|
5597
|
5730
|
5784
|
5759
|
General Out-Look
Nifty Trend looks to be sideways to Negative and Nifty is trading in Over-Sold Zone. Global Cues are Mixed. Nifty may continue its Upmove if it manages to HOLD above 5515 on Closing Basis, crosses 5526 and stays above 5542. The Upmove will be up to 5556 – 5572 – 5586 - 5602. On the other hand if it HOLDS below 5419, breaches 5403 and trades below 5389, it is likely to be dragged down to 5375 – 5351 – 5331 – 5318 - 5301.
Factors of Concern/Major Events
1. Domestic and Global News/Cues (Especially from European and U.S. Markets).
2. Status of Rupee versus Dollar. Rupee depreciated to lowest 65+ but recovered on Friday, 23-8-13 to 63+.
3. Impact of QE3 tapering by FED.
4. Aug-13 F&O Expiry on 29-8-13 – Volatility expected.
5. GDP Data for Q-1 coming out on 30-8-13 which is likely to be weak.
6. FIIs Buying/Selling volume during Aug-13 F&O Expiry Week.
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