What I said last week was that I expect Nifty to fall to at least 15700 level in the coming week. This was almost on track until the big red candle of June 16th. Now the following is my analysis for coming week:
Nifty is purely a sell-on-rise scenario. The fall should not stop until level of 15,000 is breached. However, I would not be surprised if Nifty manages to give a swing-high to 15625 before doing that.
Scenarios for the week ahead (highlighted as yellow box with red and green lines dissecting scenarios)…
Consolidation - Between 15625 and 15000
Downtrend - If breach below 15000; to drop somewhere till 14500
Uptrend - If breach above 15625; to rise somewhere till 16175
The nation continues to burn unnecessarily, and so does Nifty. Both will be ok in the long run though
DISCLAIMER: I am not a SEBI registered adviser. All the information provided on this website is for educational / informational purposes only and should not be taken as investment advice.
Nifty is purely a sell-on-rise scenario. The fall should not stop until level of 15,000 is breached. However, I would not be surprised if Nifty manages to give a swing-high to 15625 before doing that.
Scenarios for the week ahead (highlighted as yellow box with red and green lines dissecting scenarios)…
Consolidation - Between 15625 and 15000
Downtrend - If breach below 15000; to drop somewhere till 14500
Uptrend - If breach above 15625; to rise somewhere till 16175
The nation continues to burn unnecessarily, and so does Nifty. Both will be ok in the long run though
DISCLAIMER: I am not a SEBI registered adviser. All the information provided on this website is for educational / informational purposes only and should not be taken as investment advice.
