-------- Forwarded Message --------
Subject: Nifty Fut(Aug): Next Big Upside Only Abv 8595-8675 For
8760-9030, Otherwise 8325-8200 Zone Again On The Card--RBI Tone & GST
Might Be The Triggers
Date: Mon, 03 Aug 2015 08:54:03 +0530
From: Asis Ghosh <asis...@gmail.com>
Reply-To: asis...@gmail.com
To: undisclosed-recipients:;
_*Technical Analysis (Time & Price):*_
NF (LTP: 8572; SGX : 8582) has to sustain at least over 8595 for an
immediate target of 8620-8653-8675*. Only consecutive closing above
8675, NF may target 8710-8760* and sustaining above that, it could scale
up to 8875-8950-9030-9200 zone in the near future (bullish case scenario).
On the downside, inability to sustain above 8595, NF may face selling
pressure and could drift to 8529-8466 zone. Sustain below 8466, NF may
further fall to 8410-8326* area and consecutive closing below that
8250-8209-8136 might be the target in the coming days (bear case scenario).
_*Technical Trading Levels (Positional):*_
Gap Up/Dw (Indicative)
SGX NIFTY 8582 10
NF-JULY LTP 8572
SL (+/-) 10 POINTS FROM SLR
Intraday Swing Trader
T1 T2 T3 T4 T5 SLR
Strong > 8620 8653-75* 8710-60* 8800-20
8850-75 8900-50 <8600
Weak < 8600 8553-29* 8490-66* 8446-10
8366-26* 8290-50 >8620
FOR Conservative Positional Trader
T1 T2 T3 T4 T5 SLR
Strong > 8620 8675* 8760* 8875 8950 9030-200
<8600
Weak < 8600 8529* 8466* 8410 8326* 8250-09
>8620
_*Some Inputs:*_
Nifty and more specifically, Bank Nifty gave a nice rally for the last
two/three trading sessions by respecting immediate positional support of
8326 on the back of some positive news flow like proposed EPFO
investments in our stock market (through PSU ETF), Govt's
recapitalization plan for ailing PSBS (Rs.70000 cr over next three
years) and hopes of GST & RBI dovish tone.
All eyes will on tomorrow's RBI event, though there is little hope for a
rate cut, any other liquidity booster package (like CRR/SLR/MSF rate
cut) will ignite the market. In any way, RBI tone will also be important
(hawkish or dovish) for an expected rate cut in next policy meetings
(Oct-Dec'15 & Feb'16). Market is expecting another 0.50% cut by FY16.
As par some estimates, India's Nifty PEG ratio is one of the highest
(0.73) and made us the 2-nd most expensive in the emerging market
indices (EM), just behind Shanghai.
PEG=(PE/EXPECTED GROWTH IN EPS)=(22/30)=0.73 (in case of Nifty)
No doubt, we are expensive, but we have "safe heavens" appeal too,
specially after China debacle. There is no dearth of liquidity globally
and its up to our Govt to quicken various reform with a consistent
policy and there by attracting huge investments from investors awaiting
on the side line.
Looking ahead, GST & land bill implementations in one form or other
along with majority in RS for the NDA will be vital for an overall
change of sentiment but we also need the actual growth in real EPS for
the corporate India by H2FY16.
_*Technical Charts:*_
<http://4.bp.blogspot.com/-p5aKRzy4Abc/Vb7bVLNppCI/AAAAAAAADpA/G8x_r3lVehk/s1600/NF-31-07-2015.png>
<http://4.bp.blogspot.com/-pCOFjSdunQ8/Vb7bWoSiSYI/AAAAAAAADpI/04AKmXB1igc/s1600/NF-FIBB-31-07-2015.png>
<http://3.bp.blogspot.com/-2AgJY9ylohI/Vb7bYeO-3hI/AAAAAAAADpQ/jUpbFiuyp3M/s1600/NF-WK-31-07-2015.png>
<http://2.bp.blogspot.com/-XgOR30XngzA/Vb7baMd05PI/AAAAAAAADpY/R-l6dpDQyac/s1600/NF-PATTERN-31-07-2015.png>
<http://1.bp.blogspot.com/-Vp3PaJq4ga0/Vb7bdlaS7qI/AAAAAAAADpg/1v9XQB095YY/s1600/NF-PATTERN-MT-31-07-2015.png>
<http://3.bp.blogspot.com/-TFcgD70vRJI/Vb7bfqFpjnI/AAAAAAAADpo/Cry7XaKln44/s1600/NF-TL-31-07-2015.png>
--
Thanks & Regards,
Asis Ghosh
(asisghosh.blogspot.com)
NCFM-TA Certified
--
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