Nifty macro analysis as per weekly chart . 5580 worked as pivot point as per 3 years weekly chart ..nifty is trading at that level …triple bottom is there if bears will take a lead here next fib level is at 5384 and if bulls will try to pull up 5863 6150 are there …both sides are open at this juncture and buying or selling with volumes may take market to any where ..stay connected and trade according to market direction .
Possible nifty range 5600 plus minus 150… for coming week as per weekly chart
last week prediction was like that http://dhanvarsha.in/nifty-may-trade-between-5580-5862/
Daily Nifty chart ended making bullish engulfing at extremely oversold zone .
chart is self explanatory RSI MFI over sold …Bullish engulfing seen ..short covering will take place only above 5650 ..below that bears will dominate .
Nifty macro and micro outlook week ending 16 Aug 13