TECHNICAL ANALYSIS NIFTY STOCKS MARKET

TECHNICAL ANALYSIS BY www.technotrades.biz ON NIFTY USING THE INTRADAY AND POSITIONAL TRADING SYSTEM

Indian indices ended flat at 5338.00, up by 1.30 points or 0.02%. Nifty began the day on positive note and stayed in green zone for most part of the day. But negative opening of European counterpart coupled with cut in India's gross domestic forecast (GDP) set off the profit booking in the dying hours.
Nifty has formed a doji with long upper shadow indicate that market participants appear to be reluctant on the higher levels and prefer to book profit. If the index stays below day’s low (5,330) then it is likely to witness selling pressure which might drag it towards the support level of 5,300-5,250.Our bias is positive till the market is moving in higher top bottom formation and successfully closing above immediate resistance zone of 5370-5380, which is required to gain the necessary push for further upsides towards the 5,450.Trading strategy would be to Sell if market resist at 5,390 and Buy if support at 5,340.
First resistance for the Nifty is 5,367 and next resistance 5,396 and first support for the Nifty is 5,320 and next support at 5,302.

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COMMODITY UPDATES 8TH AUG

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Nifty futures test 5000 mark; Asian indices slide sharply by Venky Vembu May 7, 2012

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FII AND INDIAN STOCK MARKET

In fact, Foreign Institutional Investor ( FII) is allowed to enter into INDIA only through stock markets either in the form of equity of debt. Thus it makes an impact on the rise or fall of Sensex or nifty, since FII is allowed to be purchased or sold daily. The daily transaction of FII is the reason behind the volatility in the stock markets and has strong impact on the various macro-economic variables and the economy as a whole. The impact of variation in inward or outward flow of FII can be simply exhibited in NIFTY LIVE behavior pattern. The impact of FII can be best interpreted by explaining the recent behavior of market. The second half of NIFTY FUTURE February series showed a well deserved consolidation after a long BULL-MARKET. However, NIFTY FUTURE March series ended up with SENSEX slipping below psychological mark of 18000. These all epitomizes the immense impact of FII flow in the Indian Stock Market. Intraday traders do take care of FII activity meticulously.

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