Nifty Fut(Aug):Watch 7700 Zone---Sustain Below That 7300 Might Be The Base Case---Otherwise It Should Rebound Again To 8325--Dovish Fed & Our Govt Could Help

Trading Levels (Positional):

		Gap Up/Dw	(Indicative)
SGX NIFTY	7751	-34
				NF-Aug	LTP			7785
	SL (+/-) 10 POINTS	FROM SLR

			T1	T2	T3	T4	T5	SLR
Strong >	7700		7825	7931	7984*	8108	8275	<7680
Weak <	7680		7612	7509	7289*	7188	7000	>7700

Rationale

After yesterday's epic 1000 points initial fall, Dow Fut recovers nearly 500 points and are now up around 200 points in the morning, although China opened around 6% down (as par matching closing level with DF yesterday). Hang Seng also recovered, now up around 1%. It seems that global market is slowly stabilizing after "Black Monday" as there is no such great reason for sustained selling from here.

Fed is expected to be dovish in the next six months and market is now anticipating for any lift off only after March'16 and all the major central bankers will do what ever needed to avoid the contagion and disorderly movement of the market. As par past experience, no one will dare to fight against central bankers in this hour of crisis and there is market talk of even more QE in different forms in the coming days.

Back home, no doubt, our Govt will use all of its ammunition to stabilize our market also.

Technical Charts: