Saturday, November 9, 2013

Nifty & bank nifty moved by 200 & 700 points in predicted direction, what next ?

Nifty & bank nifty moved by 200 & 700 points in predicted direction within a week


Nifty corrected by 200 or more points  out as  predicted “ 6350   6385 are  acting as resistance for sgx nifty and possible supports are 6332 6311 6250 6155  in near term …these are upside and down side targets   also …”  http://dhanvarsha.in/support-resistance-sgx-nifty/


SGX Nifty traded at 6163  before closing at 6179    have a look


sgx9


 


For  Bank nifty it was shred  ” below 11400  next supports are 10800 and 10200″  at http://dhanvarsha.in/nifty-may-test-5800-near-future/ and bank nifty traded at 10842  before closing at 10913


Bearish engulfing at weekly chart  possible support for next week 10500  10200 if 10200 will break then 9500 will act as reversal point


BANKNIFTY_Weekly_08-11-2013


It was shared for Nifty


NIFTY MAY TEST 5800 IN NEAR FUTURE


we are firm on it as there are no sign of strength http://dhanvarsha.in/nifty-may-test-5800-near-future/


Profit booking is increasing day by day …  all candles  are red  after deewali ..so advising to wait   for  buying  do not try to catch falling knife.


at the end of 3rd week after deewali Nifty may trade at 5600 5700 level  as per this chart as bearish engulfing candle formed at weekly chart


NIFTY_Weekly_08-11-2013


We are not looking up at this level but possibility of more and more panic can not be ruled out  …trade safe   …  trade with stop loss  and do not miss profit booking opportunity .


6166  was spotted as first support for nifty futures   see at basic chart here  http://dhanvarsha.in/market-sentiment-turned-bearish-deewali/ and NF traded at 6165   before closing at  6186.


nfb



Nifty & bank nifty moved by 200 & 700 points in predicted direction, what next ?

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