Nifty Trend Quash and Futures Trading Tips

Indian NSE Index Futures Trading Stock markets settled near two week low led by weak global scenario ahead of RBI monetary policy. The Bombay Stock Exchange Sensex closes at 25481 were low by 415 points or fell by 1.60 percent. Nse Nifty Closes at 7603 were loosening by 119 points or fallen by 1.54 percent. The BSE Midcap index lost 0.80 percent whereas the Smallcap index fell by 0.99 percent on Friday Intraday Trade.

Sensex Major Resistance on Upside at 25763-26045-26327

Sensex Major Support on Downside at 25331-25181-24889

Trend Deciding Level at 25613

Nifty Index Major Resistance on Upside at 7685-7767-7848

Nifty Index Major Support on Downside at 7559-7515-7433

Trend Deciding Level at 7641

 Major Headlines

Tech Mahindra Q1 Consolidated net profit at Rs 631 crore versus Rs 614.2 crore (QoQ)

DLF Q1 net profit at Rs 127.8 crore versus Rs 181.2 crore (YoY)

Maruti Suzuki July Auto Total Sales at 1.01 lakh units Vs 1.12 lakh units (MoM)

Bharti Airtel large trade: 2 lakh shares trade in a block on NSE at Rs 383.60/share

Tata Motors large trade: 5 lakh shares trade in block on NSE at Rs 450/share

Steel Strips July total wheel rim sales up 25% at 11.03 lakh units (YoY)

Tata Motors large trade: 12.3 lakh shares trade in a block at Rs 452.85 per share onBSE

Hero MotoCorp July Auto total sales up 9 percent at 5.29 lakh units (YoY)

 Nifty Indices

 The Nifty closed at 7602, down 118 points. The index has broken its crucial support of 7630, which was the 50% retracement level as well as short-term moving average (the 20-day moving average [DMA]). This indicates that the trend has reversed in the short term. The divergence seen in the Nifty and the Bank Nifty now seems to be playing out. The Bank Nifty had a crucial support at 15162, which too has been broken. This confirmation of a lower top and lower bottom by both the indices indicates that the trend has reversed. Moreover, the momentum indicator has gone into sell mode on the hourly, daily and weekly charts which are again a negative sign. Lying on the upside, 7800 was acting as a crucial resistance and bears made sure that it was not taken off. Hence, 7800 now remains a crucial reversal point. Overall, it appears that the Nifty is forming its wave E of the broadening pattern whereas the Bank Nifty is forming wave Z down. So the short-term target for the Nifty comes at 7420. For the Bank Nifty the lower end of the range comes to 14220 whereas the reversal is pegged at 15500

In the daily chart the index is trading between the Twenty-day moving averages (DMA) and the Forty-DMA, ie 7670 and 7576 respectively. The thrust indicator is trading in negative sort on the daily chart

In the hourly chart, the Nse Nifty is trading below the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 7724 and 7724 correspondingly, which are crucial intraday level. The hourly impetus indicator encompass turned negative.

The market duration was turned negative with 470 advances and 1065 declines, Unchanged 56 Total Issue 1591 on the National Stock Exchange

Nifty Future Major Resistance on Upside at 7709-7794-7878

Nifty Future Major Support on Downside is at 7576-7528-7443

Trend Deciding Level at 7661

Bank Nifty Major Resistance on Upside at 15444-15647-15850

Bank Nifty Major Support on Downside at 15099-14957-14754

Trend Deciding Level is at 15302

Futures Trading Tips

Buy Nifty Fut Aug Intraday above 7632 sl 7604 Tgt 7662-7696

Buy Bank Nifty Fut Aug Intraday on Dips near 15211-15160 sl 15144 Tgt 15291-15350

 Pick Of the Week

Buy Tvs Motors Cash above 157.25 sl 138 Tgt 170-195

Buy Hind Petro Cash above 410 sl 380 Tgt 425-445

 Investment Tips

Buy NBCC near 455-450 for Target 650 in a Time Period of 9-12 Months

Curious Fact

The world's oceans contain Twenty million tons of GOLD.

Article Source: http://www.charanwings.com/blog/post/Nifty-Trend-Quash-and-Futures-Trading-Tips