With rumours floating around of spending being cut by the govt, this index is key doing ahead over the next couple weeks. If it breaks down all its underlying can be shorted.
If there is a stimulus or some package for the infra sector it could bounce from support.
Watch for its underlying with close attention because they could give super chances both ways....
Bullish cypher with bullish divergence, a sweet spot for a blast..
Also the D point is cushioned in ichimoku kumo clouds and presently at pivot..
The uptrend's resistance is expected to be at the outerline of the pitchfork and 0.618CD of the cypher pattern, which coincides..
But i expect there will be a bit of correction i the lines of 10 to 15 percent after...
When all indices's showing weakness there is one hope for all those who want to find ray of light.
Nifty INFRA at new highs keep close watch and find new avenue of investment and money multiplier for next 1or2 yr coming from here.
NiftyInfra(3475): #Bullish Harami @ Demand & 50% Retracement
With Demand @ 3360-3430 & 50% retracement of rally 3190-3650 @ 3420, till holds upside upto 3500 will be seen
Break above 3500 opens for upside upto 3550-3560
Sustainable upside will come once price close above 3550-3560 upto 3600-3650 levels
In case 3390 is breached, profit booking upto 3350-3310 will be seen