Monday, August 15, 2016

Happy Independence Day

1: One country
5: Major religions

A: Adorable
U: Union of
G: Gigantic,
U: Upbeat,
S: Spectacular and
T: Thoughtful Indian- who salute the freedom fighters for their sacrifice to free our country!

Happy Independence Day to all friends & followers

Coming to market, Nifty broken 8600 and closing below it but no selling follow up coming below 8600. On other side, Nifty is unable to close above 8720 too. It looks that some kind of triangle forming so one rise may be due & then fall may take place. After such kind of 1900 points rally from budget day, Nifty may not reverse in single day so once distribution will be completed then bulls will be unable to support Nifty.

In upperside 8725-8775 looks resistance area and in downside 8625-8575 looks as support area, decisive move may come beyond/ below these areas for another 100-150 quick points. Shorting looks wise in rise with proper hedging or strict stoplosses. Because if Nifty sustain above 8720 then it may go beyond 8825-8850 too.

Once again good wishes for Independence day and advance good wishes for Raksha Bandhan to all my friends and followers. Have a nice week ahead, take care of you & your family :)