Analysis & Key Levels for Aug 12, 2021

In the last 3 days, we witnessed 3 falls in Nifty intraday. All these falls were followed by a recovery. In the first and second fall, Nifty recovered only by 50%. However, after today’s fall, it recovered almost 75%. I see this as a positive. The FIIs and DIIs have also been net buyers today although only for a small amount. Europe has ended in green. The US Dow is also trading in green. Should be a positive day tomorrow. With this, let us move to the key levels.

Nifty Futures Chart (5-minute Timeframe)

Key Levels - Nifty Futures

  • Bulls to control above 16293. Targets on the upside are 16320, 16353, 16371.

  • Bears to control below 16259. Targets on the downside are 16241, 16223, 16192.

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What is your market view for Aug 12, 2021 with respect to Nifty?

  • Bullish
  • Moderately Bullish
  • Sideways
  • Moderately Bearish
  • Bearish

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