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Saturday, 22 August 2015

Nifty analysis for 21 Aug 2015 and forecast for 24 Aug 2015 - 21 Aug 2015


We have finished with more than 400 Nifty points in this series. Our Option calls remained just perfect to bring good gains. VOLTAS call was fantastic, though we exited with 70% gains, but it went onto giving 200% gains with 290 PE making high of 9.90.
In our forecast report for August 2015 series we mentioned clearly about bearishness from 21-24 Aug 2015. 21 Aug 2015 saw massive sell off around the globe, and with DOW Jones closing with more than 500 points loss, 24 Aug 2015 should see again a big gap-down in Indian bourses. 

Now we are entering the expiry week of August 2015 series, and markets are into big crackdown mode. So it will be interesting to see the expiry pressure trying hands with bearish breakdown. Who will win ? 

We are expecting markets to witness sharp pullback from lows on 24th Aug 2015, exactly as we saw on 21st Aug 2015. 

25th Aug 2015 should be a bullish day with lots of short-covering and profit booking in PEs should bring Nifty near 8400.

Expect Nifty to remain range-bound between 8150 - 8400 in the expiry week with expiry coming just around 8400.

Trading advice

1. Buy low with 50-70 point stop loss on 24th Aug 2015.

Anjum S Khan