Tuesday, August 29, 2017

Support @ 9785 & 9740

Dear All,

World stocks tumbled and safe-haven assets jumped on Tuesday after North Korea fired a missile over northern Japan, fuelling worries of fresh tension between Washington and Pyongyang. "However observers believe it won't be enough to trigger a material reaction from the United States-South Korea axis. It wouldn't be surprising, then, if investors take advantage of this geopolitical fear to buy the dips.

North Korea fired a missile that flew over Japan and landed in the Pacific about 1,180 km (735 miles) off the northern region of Hokkaido in a sharp escalation of tensions on the Korean peninsula. North Korea has conducted dozens of ballistic missile tests under young leader Kim Jong-Un, but firing projectiles over mainland Japan is his first.The missile flew across Japan this time, so the implications will likely be a bit different from previous ones.

Japanese Prime Minister Shinzo Abe called the missile test an “unprecedented, grave and serious threat that seriously damages peace and security in the region.”

North Korea threatened this month to fire missiles into the sea near the US Pacific territory of Guam, host to major US military installations, after US President Donald Trump warned that Pyongyang would face "fire and fury" if it threatened the United States.

>>> Nifty Hourly Chart <<<

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First Fall got support @ 9740 and Hence if Second fall manages to hold 9785 - Expect a bounce back tomorrow.

>>> Bank Nifty Hourly Chart <<<

>>> Click the chart to see on full screen <<<

Price if manages to hold 24100-105 - Expect bounce again.