Nifty rose 111 points to shut shop at 8532 on the back of broad-based buying. For most part of the day, the Sensex and Nifty traded on a firm note led by gains in banking stocks. The strong rollover position in the current month at 64 percent has been higher compared to 59 percent seen in the previous month. This shows that investors are taking fresh long positions on hopes of better economic prospects in the near term. Also, globally there haven't been any major negative developments that could trigger a downfall.
RESISTANCE: 8550, 8580, 8610 SUPPORT: 8520, 8490, and 8460
4. NIFTY FUTURE
Technical commentary
Nifty rose 111 points to shut shop at 8532 on the back of broad-based buying. For most part
of the day, the Sensex and Nifty traded on a firm note led by gains in banking stocks. The
strong rollover position in the current month at 64 percent has been higher compared to 59
percent seen in the previous month. This shows that investors are taking fresh long positions
on hopes of better economic prospects in the near term. Also, globally there haven't been
any major negative developments that could trigger a downfall.
RESISTANCE: 8550, 8580, 8610 SUPPORT: 8520, 8490, and 8460
Date: 03/08/15
Call: LONG
CMP: 8573
Initiation Level:
8575
Book Profit (Level
1): 8650
Book Profit (Level
2): 8800
Stop Loss: 8400
Conviction Level:
moderate risk
Reasoning: FRESH
BUYING
Short term Trend:
DOWN
Medium Term
Trend: up
For the long term
Traders: sell on rise
For Aggressive
Traders: SHORT ON
HIGH LONG ON
DEEPS
Support: 8520-
8490
Resistance- 8550-
8610 10069-10454-10816
Duration: 4-5 Days
5. Date and Time
03/08/15
Call: LONG
CMP: 18820
Initiation Level:
18850
Book Profit (Level
1): 19000
Book Profit (Level
2): 19400
Stop Loss: 18630
Conviction Level:
moderate risk
Reasoning
government reforms
in PSU for capital
adequacy.
Short term Trend:
up
Medium Term
Trend: down
For the Traders: sell
on rise buy on deeps
For Aggressive
Traders: sell on rise
Support: 18630-
18550
Duration: 4-5 Days
BANK NIFTY FUTURE
Technical commentary
Finance Ministry is expected to disburse about Rs 20,000 crore to various public sector
banks in the next two months to shore up their capital base, Of this, Rs 10,000 crore
would be provided to weak public sector banks which require more capital.
That’s why on Friday banks have gained, and looking good for upcoming week also.
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