Nifty ended lower for the second straight week tracking a sell-off in global equities amid rising tensions between Ukraine and Russia and after US President Barack Obama authorised air strikes in Iraq. On the domestic front, rising crude oil prices raised fears of further widening of fiscal and current account deficits while Reserve Bank of India's neutral stance on key policy rates flagging inflation concerns also weighed on investor sentiment in the week to August 8.
President Barack Obama said Saturday. At a news conference, Obama also repeated previous statements that no U.S. ground troops would be committed to the fight against the Islamic State, that a fully functional Iraqi government is necessary and only Iraqis can solve their problems, adding: "Ultimately, there's not going to be an American military solution to this problem."
On Tuesday the government will release industrial production data for June 2014 and WPI inflation data for July while on Thursday data on CPI inflation for July will be released.
>>> Nifty - Daily Chart <<<
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Price Broken 50dma. Expanding Triangle shows support @ 7390-7400. Lets see more on Hourly chart also with different angle.
>>> Nifty - Hourly Chart - As Posted Last Thursday <<<
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Wrote last Thursday - 7638 as a crucial support. We have also send sms to our clients about a possible for of 100 points with a Sell Call on Nifty - See what happened.
>>> Happened and Yet to <<<
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Yes our Target achieved 7565 with a profit of 135 point. Now as per above chart we expect nifty to move upward before next fall. Yes no doubt we are on Long in nifty now. Lets See.
>>> Bank Nifty - Daily Chart <<<
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Bank Nifty on a A-B-C formation - Lot of possibilities visible and hence the arrow mark drawn on chart may be useful to find out the trend. Interesting action left on chart. Lets See.
>>> Last Week's Chart Performance <<<
>>> Unitech - As Posted on 04th Aug, 2014 <<<
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Wrote on 04th Aug, 2014 to Buy Unitech. See what happened.
>>> Unitech - Happened <<<
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Made a high of 28.35 and we advised to book near 28.
>>> Jindal Steel - As posted on 05th Aug, 2014 <<<
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Said - Jindal Steel on break and advised to go Long. See what happened.
>>> Jindal Steel - Happened <<<
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Second Target of 290 achieved with a profit of Rs.15000.
>>> Performance - As on 08th August, 2014 <<<
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For more information, kindly send email to niftyforall@yahoo.com
