Last week I had presented the fibonacci time analysis and argued with evidence that nifty volatility
will increase in the coming period. What an epic week had !!! Index moved both sides in a very violent
manner. Readers of this blog would have been safe as the same had been forewarned here.
What can we expect in the coming week?
For the coming week, nifty future pivot is placed at 6130 level.
Nifty future will face huge resistance at 6165 level.
For nifty to move into positive territory it must trade above 6200.
Doing so nifty future will move to 6225, 6250 and 6295.
If nifty breaks and trades below 6070, bears will have no trouble in taking the index
down to 6020, 5985 and 5955.
The swing target for nifty is at 5925.
NEXT: Answering questions from readers
Continuing coverage of IDFC INFRASTRUCTURE BONDS : closing on 22nd October
Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss
No comments:
Post a Comment