Profile charts for 8th August

Nifty Future chart August Series :

Perspective : As the market moves into the lows, we watch out for signs of capitulation to signal a bottom which can last 4-6 weeks.

Back Ground :-- We saw a failed auction at 5387.- A reversal below the failed auction point is a new auction, as also a new IPM.

Chart Speak :

- - Huge gap between 5325 and 5233 which is a single print seller
- A failed auction at 5233
- single print buying between 5112 to 5137
- Above FA point of 5233-5239, the market can attempt gap fill up to 5325-5333, but will get resisted at 5388- 5428 during the week
- A close below 5144 can bring 4955 and 5050 during the week.

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