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CPR by KGS Newsletter Issue 31

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134 views5 pages

CPR by KGS Newsletter Issue 31

Uploaded by

anooprc123
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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AUG 08, 2021 ISSUE 31

WEEKLY NEWSLETTER
-GOMATHI SHANKAR

HIGH-POWERED BULLS!

India’s stock markets created history this week with Nifty 50 surpassing the 16,000 mark and the S&P

BSE Sensex crossing 54,000. Indian benchmark indices consolidated on August 6th after hitting

fresh highs for three consecutive sessions but the Nifty still managed to close above 16,200. On the

sectoral front, buying interest was seen in telecom, metals, energy, IT, and FMCG while selling

pressure was seen in realty, public sector, and banks. On the broader markets front the S&P BSE

Midcap index rose 0.10 percent, and the S&P BSE Smallcap index fell 0.43 percent by

underperforming benchmark indices.

NIFTY - RECAP:

Nifty, the capital index of NSE, had an overlapping and medium sized CPR range of about 39.75

points in the earlier week (Aug 02-06). We have mentioned 15900 as a strong resistance. Once our

resistance level was broken, it made a beautiful rally till R3 as expected and hit an all-time high of

16349.45 & closed at 16238.20. [Ref below image].


SCALPERS TRADING ACADEMY NEWSLETTER
SCALPERS TRADING ACADEMY NEWSLETTER
BANKNIFTY RECAP:

In the preceding trading week (Aug 02-06), we have encountered a descending and narrow CPR range

of about 44.2 points. We have expected bulls to take charge above our level 35300. Once it was

broken, bulls took off the rally till R3 & closed at 35809.25. [Ref below image]

SECTOR WHICH BLASTED LAST WEEK: (NIFTY AUTO)

In the previous trading week (Aug 02-06), there was a descending and narrow CPR range of about

21.95 points. We have mentioned 10200 as a strong resistance. Once our level was broken, it made a

good rally till R2-R3 50% and closed at 10249.50. [Ref below image]
SCALPERS TRADING ACADEMY NEWSLETTER

TRADE PLAN FOR UPCOMING WEEK:

NIFTY:
[CMP : 16238.20]

CPR RANGE: 97.45 pts


CPR LEVELS:
TC - 16189.50
PIVOT - 16140.75
BC - 16092.05
OUTLOOK:
Ascending CPR;
Medium Sized CPR;
Sideways to bullish.
EXPECTATION:

3% bull rally in the last trading week may lead to a rangebound market this week.

Strong resistance at 16350. 1 hour candle close above this level will lead to further rally.

Range bound is anticipated between 15900 and 16345.

Look for short only below 15900.

BANK NIFTY:
[CMP : 35809.25 ]

CPR RANGE: 270.15 pts


CPR LEVELS:
TC - 35674.20
PIVOT - 35539.10
BC - 35404.05
OUTLOOK:
Ascending CPR ;
Medium-Sized CPR;
Sideways to bullish.

EXPECTATION:

Ascending and medium sized CPR in the wild index indicates bullishness in forthcoming week .

Upcoming resistance at 36200. Bulls may start off the rally if candle closed above this level.

Range bound is expected between 34200 and 36200.

Bulls may become feeble only below 34200.


SCALPERS TRADING ACADEMY NEWSLETTER

TRADE PLAN FOR UPCOMING WEEK


SECTOR WHICH ARE LIKELY TO PERFORM WELL FOR UPCOMING WEEK:

NIFTY METAL:
[CMP : 5841.35]

CPR RANGE: 37.65 pts


CPR LEVELS:
TC : 5822.55
PIVOT : 5803.70
BC : 5784.90
OUTLOOK:
Ascending CPR ;
Medium-Sized CPR;
Bullish
EXPECTATION:

Ascending and medium-sized CPR indicates bullishness in the sector.

Tough resistance at 5877. A candle close above this level will lead to fresh highs.

Strong support at 5685, trust the bears only below this level.

Major stocks contributing to this sector: TATASTEEL, JSWSTEEL, HINDALCO.

NIFTY PHARMA:
[CMP : 14517.50]

CPR RANGE: 30 pts


CPR LEVELS:
TC - 14562.50
PIVOT - 14547.50
BC - 14532.50
OUTLOOK:
Ascending CPR;
Narrow CPR;
Breakout decides the direction.
EXPECTATION:

This sector is having ascending and narrow CPR, which indicates bullishness.

14716 would be a very tough resistance for the bulls to cross. Hourlu candle close above this

level will lead to rally.

Bears may take charge if 14350 level is breached.

Major stocks contributing to this sector: SUNPHARMA, DRREDDY, DIVISLAB .


SCALPERS TRADING ACADEMY NEWSLETTER

DISCLAIMER
Views, Ideas, Recommendations expressed in this weekly newsletter is purely for educational

purposes only. Investment/Trading in securities Market is subject to market risk, past

performance is not a guarantee of future performance. The risk of loss in trading and

investment in Securities markets including Equities, Derivatives, Commodity and Currency

can be substantial. These are leveraged products that carry a substantial risk of loss up to

your invested capital and may not be suitable for everyone. You should therefore carefully

consider whether such trading is suitable for you in light of your financial condition. Please

ensure that you understand fully the risks involved and do invest money according to your risk

bearing capacity. Scalpers Trading Academy LLP or any of its associated websites does not

guarantee any returns in any of its products or services. Investment/Trading in markets is

subject to market risk. Hence, Scalpers trading Academy LLP or any of its associated

websites are not liable for any losses in any case. All our services are non-refundable.

CONTACT US

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