| Turning points BULLISH | 5,431 |
| Turning points BEARISH | 5,369 |
| Turning points BULLISH | 5,422 |
| Turning points BEARISH | 5,392 |
| Expected High | 5,466 |
| Expected Low | 5,347 |
Important Note : please watch the levels carefully. Put predetermined stop losses for every trade. We recommend 15 point stop loss and minimum 20 points profit. Profit can be more than that if you carefully move the trailing stops.
Volume is key to this market and without good volume the market may tend to drift down. Last days sudden upward move was due to inflation figures. But now traders may start betting on September inflation which may be higher than this month. RSI and Stochastic signals an over bought conditions. Investors must be cautious buying this levels. We are slightly in bearish side. Even we recommended our clients to hold some short position at 5400 levels. Crossing above 5422 may give more fuel to the rally , but it seems not possible at least this week. Selling below 5392 is our today's call and risky traders can keep position till it touches the level of 5347.
Disclaimer
The information and views presented in this blog are prepared by Brijesh Maniyath. The information contained herein is based on analysis and upon sources that I consider reliable. This material is for personal information and I am not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, shares ,options or futures.
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