-------- Forwarded Message --------
Subject: Bank Nifty (Aug): 18000-17900 Is Now Crucial For "Freedom" To
Fly Towards 19280 Zone Again--Aug'30 GST, MAT & Rate Cut Hope May Help
Date: Fri, 14 Aug 2015 09:08:40 +0530
From: Asis Ghosh <asis...@gmail.com>
Reply-To: asis...@gmail.com
To: undisclosed-recipients:;
_*Technical Analysis:*_
For BNF (LTP:18320), good support zone is now around 18000-17950 and
sustain below that it may fall up to 17690-17595-17492-17285-17119 zone
in the near future (bear case probability).
On the ascend, sustaining above 17950, immediate target will be
18215-18410-18581. Only consecutive closing above 18581, BNF might
target 18626-18783-18840-19050 area & sustaining above that
19129-19194-19280 should be the target in the near term (bullish case
probability).
_*Technical Trading Levels (Positional)*_
BNF-Aug LTP 18320
SL=+/- 25 POINTS FROM SLR
T1 T2 T3 T4 T5 SLR
Strong > 17950 18215-410 18581-626* 18783-840 19050-129
19194-280 <17950
Weak < 17900 17690 17595* 17492 17285 17119 >18000
_*Some Rationale:*_
As par reports and various market talks, Govt may reconvene a short
parliament session on by Aug'30 to pass the GST bill. As now the Cong
basically is in corner for its faulty stance on "Lalit Gate" and
disruptions of parliament proceedings, its under huge pressure from all
sides and might not pose so much problem in the passage of the GST bill
to recover its lost image.
There are also some hope that Shah panel report of MAT will be published
officially and Govt will take a stand partially for the FPI(s) in the SC
also in this "hour of crisis" and there is high probability that RBI may
act this time.
Globally, China choose to be in the middle path of Yuan devaluation
after nearly 4.5% crash in the Yuan against the market expectation of
10%. But again, as par some estimates, 10% Yuan devaluation will affect
only 0.01% growth in US, but the bigger concern might be in the over all
commodity prices depression, disinflation and loosing of export
advantage by some of the countries,like Germany. The current situation
is also implying less probability for Sep or even Dec'15 Fed rate hike.
For us, excessive Yuan devaluation means more cheap Chinese exports,
specially steel and cross currency headwinds for some companies like
ADAG etc who took substantial loan in Yuan and then converted it in USD.
_*Technical Charts:*_
<http://3.bp.blogspot.com/-hC3aND_7epk/Vc1gWogdMFI/AAAAAAAADwM/lhQaFcvGT2w/s1600/BNF-12-08-2015.png>
<http://3.bp.blogspot.com/-gcW6Mo7t1eA/Vc1gY6FIPJI/AAAAAAAADwU/Uyt6DZDR2rM/s1600/BNF-FIBB-12-08-2015.png>
<http://4.bp.blogspot.com/-Sgah75R1OSQ/Vc1gbjlaujI/AAAAAAAADwc/D4EFkhQSeUU/s1600/BNF-WK-12-08-2015.png>
<http://4.bp.blogspot.com/-7z1uyGlwXkU/Vc1geCnROzI/AAAAAAAADwk/k8WX5xLPPAA/s1600/BNF-TL-12-08-2015.png>
<http://3.bp.blogspot.com/-TxLV9cy-nvk/Vc1gjxnIujI/AAAAAAAADws/_T9GD_4IlPw/s1600/BNF-TL-MT-12-08-2015.png>
<http://3.bp.blogspot.com/-gA8vLwm_pMI/Vc1gmTznz6I/AAAAAAAADw0/0YppD-lBgHI/s1600/BNF-PATTERN-12-08-2015.png>
--
Thanks & Regards,
Asis Ghosh
(asisghosh.blogspot.com)
NCFM-TA Certified
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