Technical Outlook Of Nifty Fut(NSE-SEP):Update

For NF, 7937-7926 area should offer positional support now & above 8000-8020 zone, it will gain more strength.

Yesterday, late evening unexpected China mini QE (PBOC pumping CYN 500 B through SLF to top 5 China Banks) & dovish talk from WSJ Fed Watcher Hilsenrath ("CONSIDERABLE TIME" will stay in the Fed Statement) add firework to risk trade & dollar slammed down. But later a Nikkei report that "Japan to lower economic assessment in Sept" helped dollar to recover the lost ground against JPY.

Overall, we could see some short covering in our market.

Trading Levels: Nifty Fut(Sep)

		Gap Up/Dw	(Indicative)
SGX NIFTY	7990	34
				NF-SEP	LTP	7956
	SL >/< 5 POINTS	FROM SLR
	Intraday Swing	Trader
			T1	T2	T3	SLR
Strong >	7955		7977-8001	8022-8061*	8085-8125	<7935
Weak <	7935		7920-7900	7883-7839*	7808-7788	>7955
FOR	Conservative	Positional	Trader
			T1	T2	T3	SLR
Strong >	7955		8001	8061*	8125	<7935
Weak <	7935		7883	7839*	7788	>7955