ashishchauhan
Long

Nifty Closed at interesting Point ..What's Next?

NSE:NIFTY   Nifty 50 Index
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Nifty             today closed at interesting point. So what' Next...
Nifty             today closed at 8899.75 making a low exactly at the trendline @ 8888.20 saving exactly the four fat number 8888.
According to me it is moving a in upward channel and today it had touched the lower channel support, We can expect a good bounce back from here towards the level for a new high waiting around 9070-9080 level.
So this four fat number is important to watch if it is broken then we can see the level 8825-8830 levels.

Ashish i believe the Big fat number like 8888 can result 9090 , because in stock market investor go crazy with Double number trust in your work and i strongly believe it will make 9090 and further 9191,
Thanks for your valuable Analysis
Best Regards
Shivakumar V K
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Excellent analysis !
JJoshi
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@jagkiran, THanks sir
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on the chart it has formed today bearish engulfing pattern with increase in volume, but volume is less than day before fall and price is flirting around 5 day ema.tomorrow will it be the same play game of nifty going high and fading the pull back?
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ashishchauhan nalinakshi
@nalinakshi, yes mam wait n watch game..
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Thanks, Wait n Watch, Take risk of 15 points to go long.
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@AMBRISH, yes right sir....worth to take risk
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Yep it should defend today's low , If broken than it will give away 80-100 points very easily tomorrow ,
Upward move seems dicey , every time it moves up , there is selling , sell on rally happening.
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@neneram, but we are seeing buy on dips also everytime...
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Please share your views on Bank Nifty Future also.
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