Thursday, July 16, 2015

Review markets of 16/07/2015 and Views ahead

STAR - SCHOOL OF TECHNICAL ANALYSIS AND RESEARCH

NIFTY SPOT, Today on 16/07/2015
OPEN HIGH LOW CLOSE
8546.15 8616.10 8542.90 8608.05
With support of Bank Nifty, it met with its ultimate level - MHEMA at 8611. But with newer High, now MHEma stands at 8629.

        HEMA      LEMA      CEMA      B/BD      S/SR
M 8629 8136 8472 BD        X
W 8510 8252 8432 BB        X
D 8527 8451 8509 BB        X

H 8596 8578 8589 B        X
Supports now at 8596 - 8578 - 8527.
Maintain Long with SL 8500.
Today, Close was at HiGH, which indicates some profit-booking at higher levels, to get re-entry near supports.

BANK NIFTY SPOT
OPEN HIGH LOW CLOSE
18870.50 19195.40 18867.50 19168.05
Resistances yesterday turned supports and it kept moving up.

        HEMA      LEMA       CEMA      B/BD     S/SR
M 19114 17650 18695  BB        X
W 18832 18179 18677  BB        X
D 18970 18728 18898  BB        X

H 19008 18940 18989  BB        X
With above all levels, maintain LONG with SL 18898.
Those holding LONG may look out for profit-booking if closes tomorrow below 19100.


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