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Wednesday, 13 August 2014

Nifty analysis for 13 Aug 2014 and Nifty view forecast for 14 Aug 2014 - 13 Aug 2014

Hi,

In our yesterday's report we mentioned about buying the dip towards 7700 - 7680, and today Nifty reversed very sharply after making a dip with low of 7695.


Nifty gives away 50 points in just 15 minutes in the mid session with pressure mounting from all sides. Market breadth was horrible, with metal and realty stocks taking the most pounding. Unitech tanked 17%. FMCG, IT, and PHARMA sectors were used to maintain levels in Nifty. ITC, HINDUNILVR registere 2% plus gains.

Cash market interpretation


ADV : DEC
Bearish
TURNOVER
Bearish
FII:DII
Bullish
CONCLUSION
Bearish

Derivative market interpretation


Nifty future interpretation : Short Sell
BankNifty future interpretation : Short sell



INDEX FUTURE
STOCK FUTURE
5 DAY ( 7 – 13 aug )
 Weak Bullish Bearish
3 DAY ( 11 – 13 aug )
 Bullish Bearish
1 DAY ( 12- 13 aug )
 Bearish Bearish
CONCLUSION
 Weak Bullish Bearish

Chart interpretation

Weak Bullish

Nifty forecast for 14 Aug 2014

Nifty likely to trade sideways with bullish bias, as it did today.

Advice for traders

1. Sell any gap up blindly with 30 points stop loss.
2. Buy any dip towards 7700 - 7680.

Anjum S Khan
admin@tracknifty.com
Admin/Analyst
TrackNifty.com