Profile charts for 8th August

Nifty Future chart August Series :

Nifty Mp3 Profile Charts For 8Th August

Perspective : As the market moves into the lows, we watch out for signs of capitulation to signal a bottom which can last 4-6 weeks.

Back Ground :– We saw a failed auction at 5387.- A reversal below the failed auction point is a new auction, as also a new IPM.

Chart Speak :

– – Huge gap between 5325 and 5233 which is a single print seller
– A failed auction at 5233
– single print buying between 5112 to 5137
– Above FA point of 5233-5239, the market can attempt gap fill up to 5325-5333, but will get resisted at 5388- 5428 during the week
– A close below 5144 can bring 4955 and 5050 during the week.

The above post is for purpose of education only. Similar charts are posted for the BN, LT, RIL, ICICI, SBIN everyday on our premium website