nifty view aug 13

GM

Today, while updating this SGX nifty is trading at 5345.

Today’s trading levels for Nifty Future:

Resistance: 5357-5384-5394-5402-5414-5454

Support: 5343-5320-5313-5285-5267-5259

Today, 5343 will be an important level to watch. On open above/below and sustaining above/below will indicate strength and weakness of NF respectively. On sustaining above 5343 will take NF to 5357. On crossover above it will take again NF to a supply zone of 5384-5394-5402-5414.

If not sustaining above 5343 then it will take NF to 5320-5313 level. Bulls will give their best to protect these levels. If NF manages to break and sustain below 5313 then NF will go up to 5285-5267.

We had already written this: “We are expecting a rally at least up to 5400 before any further sizable correction or before any crash in the market. It can be a best chance to exit from the market. But don’t be rigid and trade with levels only”.

NF made high of 5393.55, almost achieved 5400 level.

Alert: Chinese Shanghai composite index is around 3years low and no one is discussing about it. Day by day china’s Shanghai composite index is making new lows, why??????

Regards,
ANALYSENIFTY TEAM