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NIFTY WEEKLY STUDY FOR AUGUST 1ST WEEK

NIFTY AUG. WEEK1

Last week and in past also we have seen may script which fallen big on street, mainly GITANJALI, FT, WOCKHARDT, MCX, JPASSOCIATE, IRB, KTK, LIC, MMTC, HINDCOPPER and many more, why such a big fall in this? What’s happening with them? Are there fundamental changes in overnight? Or any news can affect sock price so much??

We already mention in our last week article market is position base, and just see all above stock fall due to panic positional selling on the base of news. All investors sell off with the effect of all bad news, which they invested through manipulating activities, and they exit with the fear as they don’t worry about the company’s fundamentals, and here main bad phase start for company, due to big falling price all valuation of companies goes down, it effect on its long term profit and balance sheet, same effect on companies services and production and ultimate it lead to loss its business in market. So overall all it indicate that in such manipulating activities in price of stock, fundamental is not build up at start with the increase in price of stock, but it surly affect big when such scam came out, and after a fall such stock not able to recover again for a long time.

So overall what I want to say is when any stock started fall in such a way, don’t invest in it again and again, because it can only harm your capital and it will waste your investing time from market. Because such big fall can surly change the stocks fundamental in long run and same effect we see with the continuous falling price. Live example you can remember is GTL, OPTO CIRCUIT and many more out there. So be safe and secure your investment.

“Money lose in a market when investor turn into a gambler, because gambler play with luck but investor make his luck to play with market”

 

NIFTY WEEKLY STUDY –

Last week we clearly mention that we can see fall in nifty till support levels as it has confirmed its “RISING WEDGE PATTERN”, DIVERGENCE, AND “BEARISH THREE BACK CROWS and inform to trade with given levels only, just rememorize we said last week “MARKET IS POSITION BASED NOT A NEWS BASE” and all you have seen how it reserve from recent top as we mention about this fall, so technical levels always matter because they give hint of upcoming events.

Now if we look at the last week chart we can see that, nifty has created a biggest SYMMENTIC TRIANGLE pattern now, with two tops and three bottoms till now, so this is the last hope for nifty now, and triangle width is almost 700 points so if nifty able to break this triangle down side then we can see some big falls in market soon, so need to follow this triangle levels perfectly.

Overall RSI situation shows that nifty still not moved into oversold zone yet so breaking the triangle can give downfall and then RSI can enter into oversold zone which can help price to come down.

Over all candlestick pattern also given a LONG LEG DOJI candle on 31/7/2013, but after that not able to give any green candle on chart, which can also shows that market yet not in a mood to give any reversal signal.

Overall this basic technical study conclude that now market has again hit the important support level, and if break this level and stay below this for two days then we can see some major falls in our market, and for reversal we need to wait till it give a positive close above mention resistance level.

Market having important support at 5600 level now, if able to close below this then we can see 5450-5200-4950 levels soon, for any reversal market need to give close above 5810 level for two days then upside we can see 5900-6050 levels.

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