5-week average is fast rising and Nifty managed to close above that. Will watch for weaknesses in 4650-4680 zone as well as next week's close too. Weekly stochastics has turned down and macd looks toppish but price confirmation is required.
"4550" will act as a pivot for the coming week. Only above 4700-4730, bullishness will return.Above "4600" is attracting selling like the previous week kept selling above "4700"..
3 comments:
Sir,
I read in a blog that as per EWT, nifty will fall to 1300 in a few months time if it does not breach 5479.
How far is it believeable, sir?
Hi..VVVVV,
How far this information can be useful to make money in the market??
Presently, we have two scenarios as per the price behaviour...
1. If Nifty can hold 4450-4420 levels in the coming days and move past 4700, it can head to around 5000 or more.
2. If it does not move past 4727 in the coming few days, a correction towards 4000 or lower(exact level not sure now) and then move past 4700 towards 5000+
We are undergoing a correction for the past 2 months since we moved up from 2539 to 4693. Whether the correction is over or still on is not clear yet. There are some stocks such as ONGC, SBI are looking goos to move higher. So too Reliance.Let us get some confirmations as the price unfold in the coming days.
I do not understand any basis for such a prediction.
Best regards.
ilango
thank you ,sir, guiding through your valuable comments
Post a Comment