Morning Brief for Tuesday, August 13, 2013.

Morning Brief for Tuesday, August 13, 2013.

Today the markets closed with significant Gains, today with BANKS and ENERY sector being the biggest loser and FMCG and METAL sectors being the biggest gainer. The Sensex closed at 18946.98, up 157.64 points from its previous close, and the Nifty closed at 5612.40, up 46.75 points. The CNX Midcap index was up 1.55% while the Smallcap index gained 2.66%. The market breadth was positive with advances at 826 against declines of 357 on the NSE.

Benchmark Index Nifty will open slightly negative, support at 5563-5511 and resistance at 5646-5665. Bearish mood will active only below 5603 and below 5580 may be it can create panic in Indian markets. High volatility will expect and nifty will trade in broader range. For risky trader suggested to go short if market will give flat or positive opening with stop loss of 5646.

Our outlook is negative for short term and advice to go short on higher level

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Nifty Punch Advisory Services

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