Tuesday 24 May 2016

RSP View on Nifty _Spot

Nifty LTP  7749

Hello Folks,
Today In this Post will Try to Forecast about Nifty Next Move.

Last time I wrote in March when Nifty was at 7450. 

For Target 7979. that  successfully done  and fail to give close above it. 
Check My Old View Here

Now Today we close at 7749 +17 
and Todays Chart looks like this.. check below chart. 

From last 2 month we are in range of 7979-7676.
and this point in market lots of noise for 7200/6800/6400 and upside 8500/9200/10k. but truth is currently we are in sideways Market 7676-7979. 
and Its hard to predict where market will go before Breakout or Breakdown for me as well for all analyst.
there mindset may say we will fall because 1200 point rally done etc etc.

Lets avoid too much commentary  :p & Back to Point 
1. Currently We are in sideways Market 7676-7979.

2. Medium-term View - 
i)Close Above 8030 Will Lead 8650/8950/9133++ &10k (Not in a Straight way, zig zag) Buy on dips SLCB 7676.

ii)Close Below 7666 will lead to 7525/7245/6868. & 6464(Not in a Straight way, zig zag) Sell on rise. SLCB 7979

3. Short-term View- 
i)Close Above 7820 SL 7720 Target 8000/8181+ and then correction. 
ii)Close Below 7676 Sell on rise 7788/7820 SL 7940 TGT 7525.

Above is my View based on my analysis. Read the disclaimer twice before following it :p 

Remember an important point folks. 
NO ONE CAN TELL THE FUTURE. What we are trying to do here, with Technical Analysis, is to provide ourselves with a framework to base our trades upon.

Hope you Like this View. Share it Bindass. 
Any Query can ask me via Telegram @stockstudy8 or
 mail me stockstudy8@gmail.com

 My Twitter Handle: @stockstudy8

Disclaimer :The Above view is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers.