NIFTY OUTLOOK

Nifty Might touch 5500 Before Or On Expiry

Nifty One may expect that the up trend would be continuing in the market & we might see the 5500 mark soon.

For trading we recommend buy on dips until it close below 5350 for the targets of 5500, 5550.

Next Trading Possible High & Low Maybe

5464 & 5388

Below 5410 Nifty can retest 5390

Abv 5434 nifty can test 5454 & 5464

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NIFTY OUTLOOK

Today Nifty broken and closed below 5430

This level has been offering support since 3rd AUG.

This level will be crucial for next few days.

Since market is near RSI supports on daily and hourly charts, a bounce is not ruled out.

A gap up or down opening 30 min low holding would be a bullish sign.

On the other hand, inability to cross 5430 would be a bearish sign intraday and

could lead to a retest of 5350 in next 1-2 days.

As an intraday strategy, use the first hour candlestick breakout to initiate trades.

Current Spot: 5420.60
Pivot: 5436
5DEMA: 5445
10DEMA: 5438
20DEMA: 5413
50DEMA: 5329
RSI (7 days): 46.71
Parabolic SAR: 5378
Supports: 5397 - 5373
Resistance: 5459 - 5498

TOMORROWS HIGH & LOW MAYBE 5444 & 5360

BELOW 5350 -5333 THIS BULL RUN WILL TERMINATE

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NIFTY OUTLOOK

TOMORROWS NIFTY LIKELY TO TOP AROUND 5512-5525

DOWNSIDE LIKELY TO 5464-5454

STRONG SUPP 5474

RESISTENCE @ 5490

BEARS WILLBE UPPER HAND IF BREAKS 5474-5454

HENCE OUR VIEW IS TO UNWIND LONG @ EVERY RISE

5DMA@5456
20DMA@5417
50DMA@5295
200DMA@5128

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NIFTY OUTLOOK

NIFTY MAY BE HIGH FOR NEXT SESSION IS 5454

MAY BE LOW 5410

STRONG RESISTANCE 5459

BREAK ABV 5480 ONLY ABV MAY LEAD NEW HIGH

NOT ABLE TO CROSS 5459 FAILURE LEADS TO 5410

BREAK DOWN WILL FALL UPTO 5383

MAIN TURNING POINTS ARE 5480-5350

BREAKDOWN OR BREAKOUT LEADS TO 100 P0INTS

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WEEKLY NIFTY VIEW

FOR LAST FIVE WEEKS NO MOVEMENT IN NIFTY. ONLY

OPTION WRITERS MAKE MONEY.

WE EXPECT A BREAK-UP OR BREAK-DOWN IN THIS WEEK.

MAY BE THIS WEEK WECAN SEE RETURN OF VOLATILE INTO THE MARKET.

NIFTY WILL MAKE SOME POSITIVE MOVEMENT IN THE FIRST TWO DAYS.

AFTER THEN IT WILL START TO CORRECT.

CORRECTIVE WAVE CAN ALSO TAKE LONG TIME.

BULLS CAN BOOK PROFIT AT 5511-33 LEVELS.

NOW THE STOP LOSS FOR BULLS IS TWO CLOSING BELOW 5377.

BEARS HAVE TO WAIT FOR ABOVE TWO CLOSINGS.

AFTER THEN SHORT IN EVERY RISE AND MAKE PROFITS.

WEEKLY TRADING RANGE

==========================

5200/5244-5488/5533

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NIFTY OUTLOOK

NIFTY MAY TOUCH 5491

LOWER END MAYBE 5441

RESITANCE @ 5476 CROSSOVER WILL

TAKE TO 5490-5500

SUPP @ 5454 5444 BREAK WILL LEAD

TO 5410

Nifty futures range is 5422 - 5472

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NIFTY OUTLOOK

NIFTY MAY OPEN FLT TO NEGATIVE BIAS

TOMORROW ALSO MAYBE A TIGHT RANGE BOUND MKT

UPSIDE MAY BE LIMIT TO 5453

DOWN SIDE MAY BE LIMIT TO 5405

res 5454-5465

sup 5419-5410

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NIFTY OUTLOOK

It looks like some more steam left In Nifty for upside

Probably to 5480-5509-5525 may be the last

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NIFTY OUTLOOK

Break out above 5400 seems a failure now which might have its own consequences.

5410 - 5420 looks as good resistance as of now which can be used as Stoploss for shorts.

5 day avg is kissing 13 day avg. Cross over of which may confirm the reversal.

We are trading in a downward channel break of which downside may accelerate the fall.

Lower high lower low pattern is intact since last 6 days.

I expect a faster fall to start by Monday.

The possibility of a gap down opening breaking the support of 5350

breaking the channel support which can accelerate the fall.

Next support is around 5210

Expect weakness if 5350 (weekly low) breaks and markets fail to recover.

Next support 5210.

Levels to watch: 5350-5210

Stoploss for longs: 5350.

For a reversal, I will look for a break of 5350 and confirmation of the same level as a resistance. This will set up a lower top with more downsides.

The 20 day swing is 5210

NIFTY As far as confirmed signals fast approaching the sell mode and is getting too close.

The critical level to watch is 5350.

NEGATIVE :-BELOW 5350,WILL FALL TO 5210,SL-5400

POSITIVE :- ABV 5454,TGT-5500,SL-5350

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