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 next
support at 5,311.

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COMMODITY UPDATES 8TH AUG

August 8, 2012 News Highlights:  The U.S. API Weekly Crude Stock fell to a seasonally adjusted annual rate of -5.35M, from -11.61M in the preceding month in turn indicating that demand for the fuel in US, world’s largest consumer of crude oil is strong.  Crude oil output from Organization of Petroleum Exporting Countries (OPEC) fell 270,000 barrels per day (bpd) in July to 31.45 million bpd from 31.72 mbpd in June, raising supply concerns in the near future.  The Federal Ministry of Economy and Technology said that German manufacturing orders declined more than expected by 1.7 percent month-on-month in June against expectations of a drop of 0.8 percent which in turn curbed gains in copper by dampening demand outlook for industrial metal.  The European Central Bank is expected to start unlimited buying of stricken member states' bonds to drive down their crippling borrowing costs and shore up its faltering economy which in turn improved demand prospects for copper and c...

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