NIFTY- will it break Upside or Downside??- Part 6

NSE:NIFTY   Nifty 50 Index
Nifty was very volatile last week & had closed @ 8086.80 last week. Nifty had tried to fulfill the gap down opening but had failed. Now for this week as per the chart setup nifty is looking weak, it can target its major support area which is @ 7950-7960 /7910-7920 level. On upside it will face a huge resistance at 8160-8170 level.
Rest continues and we will discuss it again when any breakdown or breakout is going to occur. Lets see...Wait n Watch..
Your ideas welcome please post your views regarding it what you think.
Comment: Moving towards the resistance zone..
what if it breaches 8160-8170? can we see upside?
RBI rate cut is also going to come.
ashishchauhan AnandNeeli
@AnandNeeli, yes then we can see further a jump of 60-70 points but as per me upside is limited and will not sustain. I may be wrong please study yourself for taking any trading decision.
ashishchauhan AnandNeeli
@AnandNeeli, no rate cut came and it down from there..
AnandNeeli ashishchauhan
@ashishchauhan, yes!
surprisingly, no change is also bad for market :)
wonder what would happen if it was -vw
AnandNeeli AnandNeeli
@ashishchauhan, yes!
surprisingly, no change is also bad for market :)
wonder what would happen if it was -ve (typo)
ashishchauhan AnandNeeli
@AnandNeeli, no change mkt reacted negative because it was rising on the hope of some +ve from rbi which was created by media and analysts.
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