nifty for August settlement

Nifty for August settlement reaches with in one week. Nifty is showing bullish break out above 5500.  Now the Global cues are negative. Nifty resistance lines are at 5550-5590 zone. But as seen from FII buying in cash market and shoot up of prices sector-wise it is expected the markets are entering euphoria phase. Hence, we may have to expect a further breakout above 5600 in this settlement.  In terms of Sensex calculations, above 18K sensex has to touch 19K and retraces up to 18K once again before a big rise on the eve of Diwali 2010. Any how nifty has to cross 5600 and may settle at 5550-5600 zone. Hence, it is expected one can rise a trade by buying 5600 calls in single digit for a selling at Rs25/-.

For September range will be 5700-5400 and 5700.

Nifty on 3-8-2010 closed at 5440 with a discount 5 points.

• FII bought in cash, F&O all segments. 
• Nifty future added 13.3 lacs (bullish).
• But, the overnight closing of DOW at higher levels was not able to push the market as expected, even there was writing of 5400 call ( in the money) considerable volume. This night the DOW facing the profit booking, but we have to wait for its closure.
• Though the FII data is still positive the market is not going up as expected. This means one has to wait for a downward correction first??? (under current is positive) to 5212 nifty future and a bounce up. GO slow as of now.

If nifty corrects first the levels are 5310, 5212 (most possible level), 5130, 5050 future.

Yesterday nifty closed at 5431. Global cues are positive. DOW jumped very high leading all Asian markets to bullish run. FII data positive in cash, index futures and stocks futures. Now the first target for nifty will be 5560 in this run. stop loss 5430.

nifty swings in new settlement

Nifty for tomorrow: Bullish above 5430 future. Bearish below 5340 future target 5230 future. FII data more selling. But buying in cash market. Global cues: If DOW future breaks 10263 the DOW will collapse in medium term leading to our markets to corrects further.