NEWSLETTER 08 AUGUST

Nifty is again at a crossroad. While the monthly levels are bullish the daily and weekly charts are showing signs of nifty being oversold. Hence we are seeing a sideways movement from the last two days. We may see Nifty testing the crucial monthly level of 4464. From today I will be posting crucial PIVOT (this Pivot is not the regular Pivot Levels) levels. Once the market settles down if Nifty or any script is trading above the PIVOT it is a buy. If it is trading below the PIVOT then it will be a sell. Stop Loss will be .75 percent.

SCRIPT/INDEX	PIVOT
BANK NIFTY	6370
NIFTY SPOT	4524.75
NIFTY FUTURE	4532
STERLINBIO	184.85
RPL	168.45
UNITECH	179
GMRINFRA	101.75
AXISBANK	749.5
BANKINDIA	302.5
IDBI	91.25
TATASTEEL	654
RCOM	444