Chart Shows the Last 7 days of Movement in Nifty giving alternate buy and sell signals as per 5 EMA trading system. Look like a consolidation pattern between 2888-3150 only breakout can give direction. So we have to wait for news till the breakout occures
Simply. As the news is gonna decide the breakout.
UPSIDE BREAKOUT WILL LEAD NIFTY TOWARDS 200 WMA OF 3666 IN NEXT 2 WEEKS. HOWEVER FAILING TO CLOSE ABOVE 3100 ON ANY DAY AND SLIPPING DOWN TO CLOSE BELOW 2888 ON ANY DAY CAN SURELY SLIDE NIFTY TO MUCH LOWER CLOSING LEVELS TOWARDS 2800 & THEN TO 2684 DAY CLOSING DURING THE WEEK.A CLOSE BELOW THE CRITICAL CLOSING LEVEL OF 2684 ON ANY DAY CAN THREATEN THE LOWEST CLOSING OF THE YEAR OF 27TH OCT AT 2525 LEVELS.
Related Readings and Observations
Stock to Watch : Ansal Infra Ansal Infra trading above the weekly clouds for the past 6 Weeks and registered a fresh 4 week high. It is also
trading near the resistance zone 90. Once Ansal Infra crosses Rs 90 then it […]
Short Update on the Emotional and Exponential Gaps in Nifty Futures Nifty is trading very close to all time high levels which is perfectly normal for a bull market sentiment and nothing much changed from the last view on exponential unfaded gaps in Nifty […]
Is the USDINR Braced to test All time High? After Dr.Raguram Rajan's(RBI Governer) announcement that he will not continue in office for the second term, stock markets on Monday reacted with gap down and recovered on relief of BRexit […]
Year 2013 Performance in Nutshell – Infographic Year 2013 is about to end by tomorrow. So which assest class among Index,Commodities,Forex performed good for this year? Below infographic shows the year to date performance of various […]
Longer Term GANN Chart Update for Nifty
Longer term GANN Charts shows that how the market had reacted near 4800 zone and raised sharply from that zone. Also have a look at the charts how gann charts are acting as a […]
This Indicators’ 30-Year Track Record is Flashing Red for Stocks Here at Ellliotwave International we studied investors behavior for nearly 40 years. A huge benefit of all that study is being able to study today's stock market to the major market market […]
Leave a Reply