Dax Technicals - 3rd August

All stock markets in recent past offering very good trading opportunities by moving with in a range. While US and Europian markets are moving with in an upward channel, NIFY is moving with in sideways range of 50-100 points. As predicted in our previous post Dax fell to its support to near 6550. A break below 6550 will have target of 6430 on Dax but other +ve indicators may limit its fall to near 6400. Any indications of taking support near 6400 or at current level of 6600 will be very good buying opportunity for targets 6550, 6700 and 6890. However a sustained break below 6400 will have downward target of 6220, 6150.

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