Updated every Monday, on weekly basis.
29th August 2016 (Monday)

NIFTY (Cash)

Market Short-term trend : For Short-term positions

Market closed cautious in last week, indicating a possible further weakness in this week.
Incase of any recovery, then the resistance above is at 8600.
It has to close above this level, for a short-term uptrend

Incase of a correction, then support below is at 8500.
Market has to definitely recover above this support, for a safety.
Only incase of any close below support 8500, for two days, then it indicates a short-term correction.

Disclaimer: This content is only for Education and for Information purpose. There is risk of loss in the stock markets and it is not suitable for all Investors/Traders. Returns in the market are dependent on market conditions. The analysis made herein is based on Technical Analysis, and is subject to change. Readers of this column are advised to use their own discretion before trading or investing in the financial markets and they are only solely responsible for their actions.

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