EOD Report

Market closes deep down the 20dema at 5460 and 2day support of 5452. Once it broke the level it is all the way towards the next 50 dema at 5385 and 50dsma at 5389 which should offer the support. Nifty has touched a low of 5391 and hopefully, the index should give a bounce next week starting with the expectancy that 50demas will normally offer the first support. Let us wait and watch. But with Nifty below 5dema and 20dema , the trend is now clearly down and how much it can recover, is the level to be shorted. If 5dema is below 20dema, the fall will be faster.
Levels given today for trading
NIFTY
Buy Above/SL 5496/18283 Target 5510/18328
SAR/Sell Below 5486/18254 Target 5469-5463/18198--18175
Sell Below/SL 5460/18170 Target 5446/18124
SAR/Buy Above 5470/18199 Target 5486--5493/18254---18275

BANK NIFTY
Buy Above/SL 11037 Target 11082
SAR/Sell Below 11009 Target 10954---10931
Sell Below/SL 10926 Target 10881
SAR/Buy Above 10955 Target 11009---11030

Trade Diary for 27-08

9.04 am Sold Nifty at 5460 [2lots]
9.50 am Bought Nifty at 5470 [2lots]
Minus 20 Points
1.02 pm Bought Nifty at 5464 [2 lots]
1.26 pm Sold Nifty at 5460 [2lots]
Minus 8 Points
1.37 pm Sold Nifty at 5460
1.47 pm Sold Nifty at 5462
1.58 pm Bought Nifty at 5448
keep stoploss 5463
2.24 pm keep stoploss 5454
2.31 pm keep stoploss 5450
2.36 pm keep stoploss 5435
2.37 pm keep stoploss 5430
2.41 pm Bought Nifty at 5430
Plus 44 Points
Net for the day --- Plus 16 Points [2lots]
Net for August [20days] --------Gain of 579 points [2lots]
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Banknifty
9.14 am Bought BN at 10955
1.25 pm Sold BN at 10926 [2lots]
Minus 29 Points
1.29 pm Bought BN at 10881 [target reached]
Plus 45 Points
Net for the day ----- Plus 16 Points
Net for August [14 days] ---------- Gain of 376 Points [1lot]