NIFTY to correct and go to 24400-24300 levels and bounce back.
I expect a strong bounce back from those levels given constant flows into Mutual Funds.
This move will also bring RSI on monthly charts back below 80.
PS: Gold also looks to have a correction of abt 10%. Since last few years Gold / Equity and other asset classes have been trading with very high...
India VIX is at all time low.
Nifty has scaled to 18900 twice before and currently near all time high.
Technical pattern suggests Nifty to break the barrier and continue its drift across to ~21000 mark.
THIS IS FOR EDUCATIONAL PURPOSE ONLY.
TRADE AT YOUR OWN DISCRETION.
Nifty seems to have bottomed out for the next forseable few months. 4 months continusouly Nifty has been in red and statistically April should to be a green candle.
My Analysis basis long term support and ceiling and short term support and ceiling.
Change in direction seems very logical.
Question is will April be a month of consolidation or Breakout ?
