Nifty Analysis for 23rdAugust2011

Nifty Conservative Trading 
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Nifty Monthly  Long above 5705(HEMA)  and 5192 (LEMA)  (TREND UP ABOVE  5365)
Nifty Weekly   Long above 5216(HEMA)  and 4989 (LEMA)  (TREND UP ABOVE  5074)
Nifty Daily    Long above 5006(HEMA)  and 4897 (LEMA)  (TREND UP ABOVE  4950)
Nifty Hourly  Long  above 4890(HEMA)   and 5006 (LEMA) (TREND UP ABOVE  4878)


Nifty  JNSAR
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Nifty Weekly JNSAR  5433  -stay short
Nifty Daily  JNSAR  5086  -stay short
Nifty Hourly JNSAR  4851  -stay long 


Nifty Havala Level
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30-July-11   5487


Nifty Aggressive  Trading
---------------------------------
Range 56  max 4980 min 4895
STOP LOSS 10 points only.


Support and Resistance
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4680-4784-4828-4880-4951-(5006-5011)-5057-5114-5182-5225-5296-5350-5393-(5433-5460)-5490-5502-5532-5539-5550-5580-5606-5616-5630-5658-5667-5729-5754-5775-5865-(5940-5965)-6090-6175-6250-(6325-6350)


Open Interest 
-----------------------
Support    4800/4700
Resistance 5000


Trade Conclusion
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4940 -create short around this level with strict stoploss of 20 points. 


We may remain in sideways market with selling pressure at upper level. 
As long as 5940 /5114 is protected ,we have 70% chance of hitting 4700.so fresh should be tried around these level only.



Hope that helps .Take care .Have a happy trading.
Bank Nifty Analysis on   http://tradeinbankonly.blogspot.com