Technicals for 7-August- 2013

Technicals for 7-August- 2013 for Nifty

After mayhem in markets, On 6-August-2013, Nifty Closed at:5,542.25 (-143.15 points) on account of short selling by bears. On 7-aug-2013, there will be buying oppurtunity/short covering by bears.

 Daily trend(as per XL trading system):down trend
Market Type(as per XL trading system): bear market

 Daily Nifty Technicals Snapshot:

Trade performance for nifty in XL trading system

535 points profit from “Sell to Buy” on Nifty ( 535pts x 50 shares per lot in nifty = Rs.26,750 profit in 12 days)