Nifty: 8939. Find a new 52week High,expect 9083 & 9119 soon

NSE:NIFTY   Nifty 50 Index
Nifty: 8939. Find a new 52week High and this week is also going to find new high 9083_9119 or even 9150 .Trading above 8910, Daily range for Monday will be 8960_8984 & 9030.
Nifty is having a strong support at 8875_8827.
Below 8827 only nifty can correct to 8750 level and more.

Reached near to our expected target 8990 and closed above 8969 is suggesting another attempt will be made to break the range of 9000 as mentioned in my earlier postings, for next move towards 8960_9k & 9119. And again we will find strong resistance there. Currently we are in a strong Bullish trend and there not lacking any signal to see the other way. As usual we must be cautious at higher level. Keeping a tight stop loss at 8830. All the above are pivot level only.

The weekly chart is showing a bullish break out with a strong candle and the MACD signal strong positive cross over in bullish region. Whereas the hourly chart is weak with a moderate negative outlook can correct to 8750 level even.

Stock specific actions expected, but largely this week will be guided by liquidity flows, as well as macro data such as GDPdata on Tuesday, while I was preparing this, the news is flowing that GDP will 6.6% , car sales, and PMI data scheduled to be announced this week
and heromotor
all the above will be in action, this week.
Comment: Nifty protected the level 8910 is a positive sign.


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