Oct22-W2: Is Dow action enough to resume downtrend? (Oct10-14)
What I said last week was that Nifty should consolidate. This is not what happened, as Nifty stayed bullish. I did not have much clue and wasn’t sure on the prediction anyway. Now the following is my analysis for coming week:
Well, I am still clueless. Had it not been the big down move at Dow Jones, I would have voted for a green week. Now the start of the week is going to be a gap down. Typically, big negative moves in US due to news etc have been negated by Nifty. Thus, the gap may get filled or may get partially filled or Nifty could crash for all we know. The latter is inevitable but the way in which it is happening is very confusing
Scenarios for the week ahead (highlighted as yellow box with red and green lines dissecting scenarios)…
Consolidation - Between 17550 and 16850
Uptrend - If breach above 17550; to rise somewhere till 17925
Downtrend - If breach below 16850; to drop somewhere till 16375
It is raining incessantly here in Delhi NCR. Quite unexpected. Just like the market with its unexpected moves
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.
Well, I am still clueless. Had it not been the big down move at Dow Jones, I would have voted for a green week. Now the start of the week is going to be a gap down. Typically, big negative moves in US due to news etc have been negated by Nifty. Thus, the gap may get filled or may get partially filled or Nifty could crash for all we know. The latter is inevitable but the way in which it is happening is very confusing
Scenarios for the week ahead (highlighted as yellow box with red and green lines dissecting scenarios)…
Consolidation - Between 17550 and 16850
Uptrend - If breach above 17550; to rise somewhere till 17925
Downtrend - If breach below 16850; to drop somewhere till 16375
It is raining incessantly here in Delhi NCR. Quite unexpected. Just like the market with its unexpected moves
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.
Trade closed manually:
ROI this week = 0.96%
# of weeks traded = 27
Avg ROI per week = 1.25%
# of weeks traded = 27
Avg ROI per week = 1.25%
