{"id":3249,"date":"2013-08-05T08:32:59","date_gmt":"2013-08-05T03:02:59","guid":{"rendered":"https:\/\/blog.fundsindia.com\/blog\/?p=3249"},"modified":"2013-08-05T08:34:29","modified_gmt":"2013-08-05T03:04:29","slug":"nifty-short-tem-update-august-5-8","status":"publish","type":"post","link":"https:\/\/www.fundsindia.com\/blog\/uncategorized\/nifty-short-tem-update-august-5-8\/3249","title":{"rendered":"Nifty: Short-tem Update August 5 &#8211; 8"},"content":{"rendered":"<p style=\"text-align: justify;\">In the FundsIndia FREE weekly market outlook webinar held on Friday, we discussed the possibility of a relief rally in the Nifty. The index has seen a one-sided fall with a negative close on eight consecutive trading sessions. This has pushed the Nifty to an oversold region, justifying the case for a potential pull back rally.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2013\/08\/Nifty-flag.png\"><img loading=\"lazy\" class=\"alignleft size-full wp-image-3252\" alt=\"Nifty flag\" src=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2013\/08\/Nifty-flag.png\" width=\"1340\" height=\"581\" srcset=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2013\/08\/Nifty-flag.png 1340w, https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2013\/08\/Nifty-flag-300x130.png 300w, https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2013\/08\/Nifty-flag-1024x443.png 1024w\" sizes=\"(max-width: 1340px) 100vw, 1340px\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">As highlighted in the above daily chart of the Nifty, the index is now headed to an area of support. Any further\u00a0 fall would present a low-risk opportunity to consider long positions.<\/p>\n<p style=\"text-align: justify;\">The stop loss for the long positions must be placed below the swing low at 5,477 for a possible rally to 5,850-5,900. Those adept at handling derivatives market may consider long positions via the options route.<\/p>\n<p style=\"text-align: justify;\"><strong>We also discussed in the webinar that the last minute slide below the double-bottom at 5,680, in the 15-miunte Nifty chart,\u00a0 is a potential wash-n-rinse of weak or amateur traders. Any pull back today could trigger short-covering and may propel the index closer to our target zone. <\/strong><\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2013\/08\/Bankex.png\"><img loading=\"lazy\" class=\"alignleft size-full wp-image-3253\" alt=\"Bankex\" src=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2013\/08\/Bankex.png\" width=\"1340\" height=\"581\" srcset=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2013\/08\/Bankex.png 1340w, https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2013\/08\/Bankex-300x130.png 300w, https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2013\/08\/Bankex-1024x443.png 1024w\" sizes=\"(max-width: 1340px) 100vw, 1340px\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">From the Bank Nifty daily chart featured above, it is evident that the index is settling down near a crucial target cum support zone. The Bank Nifty could also play a part in helping the Nifty seek higher levels.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the FundsIndia FREE weekly market outlook webinar held on Friday, we discussed the possibility of a relief rally in the Nifty. The index has seen a one-sided fall with a negative close on eight consecutive trading sessions. This has pushed the Nifty to an oversold region, justifying the case for a potential pull back [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3,59,1],"tags":[67,89],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nifty: Short-tem Update August 5 - 8<\/title>\n<meta name=\"description\" content=\"The Nifty has closed in the red for eight consecutive trading trading sessions. The recent fall presents an opportunity to get long for short-term traders.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fundsindia.com\/blog\/uncategorized\/nifty-short-tem-update-august-5-8\/3249\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nifty: Short-tem Update August 5 - 8\" \/>\n<meta property=\"og:description\" content=\"The Nifty has closed in the red for eight consecutive trading trading sessions. 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