ashishchauhan
Long

Nifty whats Next??

NSE:NIFTY   Nifty 50 Index
Nifty followed the levels very precisely in previous week post though it was a budget week but it respected our levels perfectly.

We still believe that Nifty is in Bull phase and we can see some more higher levels after crossing the level 8755. We can see 1 day consolidation on monday before that.
We had marked 3 levels on higher side for up movement which will act as resistance for nifty with +-5 point range and 3 levels on downside which can become support for nifty on any downfall with +-5 point range.
Upside levels for nifty if goes above 8755 are 8823/8894/8944
Downside levels if unable to cross 8755 & comes below 8708 then 8675 will be decider & below it 8600/8547.

Comments

What about the next trigger which RBI credit policy on 8th feb
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ashishchauhan masoodkwt
@masoodkwt, whatever be it....follow levels
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nalinakshi ashishchauhan
@ashishchauhan, i feel true strength indicator helps us to book out or book in profits prematurely. as like other oscillators it will not whipsaw to give dilemmas whethere or not to hold.
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ashishchauhan nalinakshi
@nalinakshi, ok thanks for the information mam will have a look on it...
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really appreciate your analysis , i too felt kkthat nifty will break above to your targets, do you follow true strength indicator, it shows still strength,.
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ashishchauhan nalinakshi
@nalinakshi, no i dont follow that indicator...
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what moving avg is being used ?
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@neneram, 50 it is
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Thanks.
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