NIFTY VIEW FOR NEXT 45 DAYS: LEVEL OF 8135 IS IMPORTANT LEVEL ON DOWNSIDE BREAK OF WHICH WILL CONFIRM THE BEAR TARGET. DEAD CAT BOUNCE UP TO 8545 IF SUSTAINED THEN BULLS MIGHT ENTER THE MARKET BIG TO TAKE IT PAST THEIR TARGET OF 9120 AND 9705 ON CLOSING BASIS. ONLY TRIGGER FOR BULLS IS EXPECTATION OF GOOD AND STRONG CORPORATE RESULT SEASON BEGINNING APRIL 9TH AND ENDING IN THE NEXT 45 DAYS !!! HAPPY TRADING !!!
NIFTY CONTINUES TO TRADE AROUND THE MAJOR BREAK DOWN LEVEL OF 8135 SINCE APRIL WITH RETRACEMENT UP TO 8845 AND LIMITED DOWNSIDE. THE VIEWS EXPRESSED IN APRIL AND TARGETS IN CHART REMAIN VALID EVEN 60+ DAYS AFTER POSTING THIS VIEW. THE POWER OF TECHNICAL LEVELS ON LONGER TIME FRAME IS UNFOLDING NOW AFTER A YEAR OF BREAKOUT BETWEEN MARCH 6, 2014 (Nifty 8400) to MARCH 4, 2015 (Nifty 9119 high). HAPPY TRADING !!!
NIFTY ENTERS THE MONTH OF SEPTEMBER CRACKING UNDER GLOBAL CUE PRESSURE GIVING A NEW LOW OF 7670 AND NOW BOUNCING BACK . LEVELS OF THE CHART POSTED IN THIS POST STARTING FROM APRIL ARE PROVING TO BE HOLDING VERY WELL AND NOW ONLY CLOSE ABOVE 8135 SPOT PRICE WILL BE CRUCIAL FOR BULLS. IN A CRACKING MARKET SUPPORT LEVELS ARE HIGHLY VULNERABLE TO BREAKING DOWN. LEVEL OF 7345 IS THE ONLY LIKELY SUPPORT LEVEL BELOW 8135. A TRADING RANGE BRACKET IS GETTING FORMED AND MOST LIKELY BE 7345-8135/8350 FOR SEPTEMBER SERIES !!!
NIFTY ENTERS OCTOBER SERIES AND GIVING A NEW LOW OF 7539 IN SEPTEMBER AND FACING RESISTANCE @ 8055. REVERSAL LEVEL FOR OCTOBER REMAINS 8135 WHICH HAS PROVED TO BE A GOOD PIVOT POINT DEVELOPED OVER THE PAST 6 MONTHS. RESULT SEASON STARTS AFTER OCTOBER 10TH AND RBI RATE CUT EXPECTED ON SEPTEMBER 29TH CAN TAKE NIFTY PAST 8135 TOWARDS 8545. SEPTEMBER 29TH RBI POLICY REVIEW WILL BE VIEWED VERY CAREFULLY BY THE MARKET BEFORE BREAKING THE 8135 BARRIER. HAPPY TRADING !!!
