Review - 08/07/2015 and views ahead

STAR - School of Technical Analysis and Research

Today on 8th July 2015, Nifty Spot
OPEN HIGH LOW CLOSE
8439.20 8457.50 8341.40 8363.05
It was gap-Down Open and maintained below yesterday low with bearish tone whole day. warned yesterday of Loss of Momentum, which showed up its power today. SL for Long was hit at Open with breach of 100-dsma and way ahead was clear, with Pre-Open posting.

    HEMA    LEMA    CEMA   B/BD   S/SR 

M  8611     8144      8390       X        X
W  8457     8209      8345    BPL      X
D  8490      8389      8440     X        SS
H  8414      8366      8387     X         S
At EOD, it was signal of SHORT with SL of 8440.
Resistances now at (8387-90) - 8414 - 8440 - 8457 .
Supports at (8341-45) - 8209, meaning more downside likely if today's LOW of 8341 is breached.

Today on 08/07/2015, Bank Nifty Spot
OPEN HIGH LOW CLOSE
18579.65 18669.45 18402.85 18463.15
Gap-down Open after Resistance forecast at 19000 level had indicated profit booking in Long at higher levels. Long SL was hit at Pre-Open and revised levels were provided after Pre-Open.

      HEMA   LEMA    CEMA    B/BD     S/SR
M   19042   17650   18460      BD        X
W   18651   17939   18345      BPL     X
D    18744   18457   18616       X     BPS

H     18583  18498   18538      X        X
Mixed trend is seen ahead with biased towards bearish.
Resistances at 18498 - 18538 - 18583 - 18616 - 18651.
Support at (18455-60) - 18400 (low today) - 18345.

Jeetendra Mistry

Ahmedabad - @ 5 15 pm