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Wednesday, 12 August 2015

Nifty analysis for 12 Aug 2015 and forecast for 13 July 2015 - 12 Aug 2015

Hi,

Devaluation of chinese YUAN took the toll of whole gamut of stock markets around the globe.

Nifty today breaks 8400 for the first time in this expiry and closed at 8349.
FIIs were in full flow with their selling spree and sell a staggering 1880Cr and DIIs couldn't provide enough buying to hold them. Yesterday FII sold some 700Cr and today 1880Cr. 
All sectors except IT and PHARMA took the beating with Metal stocks being massacred brutally with HINDALCO, VEDL hitting fresh 52week low.

INFY on the back of good results marched strongly towards its high of 1140 made on the results day (21st July 2015).

Now Nifty is at its very strong support of 8350 for this series. And any slightest support from global peers will bring some 70 points short covering very easily. 

We are of the view that Nifty will witness a bounce back towards 8450 in next 2 days, if there aren't some new surprises which are beyond our control.

Trading advice

1. Buy any gap down.

2. SBIN, BHARTIARTL, RELINFRA, TATAMOTORS should be strong buying candidates tomorrow.


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