Market at a Glance

Market at a Glance

Indian benchmark indices are likely to open lower today, tracking negative global markets.
Meanwhile, the Asian markets are trading lower amid concern about the faltering global
economic growth after manufacturing surveys from the Eurozone and China depicted a bleak
outlook. Further, concern that the European leaders are struggling in finding ways towards
solving the region's debt crisis and fading hopes of more stimulus from the US Federal Reserve
are also weighing over the sentiments. In SGX Nifty, Aug'12 contract last traded at 5,406, down
by 23.00 points from previous settlement.

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BANK NIFTY PERFORMANCE ON 25 JULY 2013

BANK NIFTY SELL TRADE MADE ABOUT 70 POINTS ON 25 JULY 2013

NIFTY LEVELS AND TRADING STRATEGY 21 AUG

Nifty closed marginally positive at 5366.30, up by 3.35 points or 0.06%, the Indian key indices opened on a strong note amid stability in global markets on hopes of easing Eurozone credit crisis. Later market erased all gains after the CAG found irregularities in the government's coal allocation and usage. Nifty has formed a high wave candle with long shadows on both sides near its immediate resistance level 5,380 indicating indecisiveness at higher levels. Nifty has also broken below its supporting trend line with heavy volumes and decisive closing below 5,350 indicates that Nifty is likely to remain under selling pressure which would lead the index downwards towards 5300‐5250. On the up side sustain buying above the 5,380 mark will see follow up buying towards 5,420‐5,460. Trading strategy would be to Sell if market resist at 5,380 and Buy if support at 5,330. First resistance for the Nifty is 5,399 and next resistance 5,427 and first support for the Nifty is 5,339 and ne...

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