BAD NEWS for all who have bought Nifty 8500/8550 PE .
NiFTY is range bound and won't give any major breakout or breakdown till October, 16 expiry, since only 4 trading sessions are left . Under 2 studies, 1 of which I am going to share here, the probable down targets are 8519 max to max and on the upside 8751, whichis contrary to my earlier belief of Nifty...
As expected today Nifty fails to close above the resistance line and closed below the mid line of Bollinger Band being unable to breach its immediate previous high. It signifies that there is weakness in the NiFTY and it may hit 8400 at any time in the next week. A panic button may be pressed close to the expiry which may lead NiFTY to sub 8637 levels to hit 8500 and 8400.
