Monday, June 20, 2016

Nifty Analysis for 20 June


I could not write weekly Nifty view this week. So here is weekly perspective. On Technical charts larger time frame will always play bigger role. We have been talking about Nifty trading near its weekly resistance and is in the process of correction.

The news of RBI Governor exit will help bears to push markets further down. Corrections are healthy for any up trend. This correction can be a buying opportunity. On daily chart Nifty has crucial support only at 8000-7900.
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However for intraday this is a sell on rise market. If nifty gaps down below low of Friday at 8137, that can be a sell opportunity. If Nifty gaps down near 8137, still it remains sell opportunity on rise.

Nifty can move down to 8086, which is next crucial support. 

My course participants know that markets trade in cycles. We are in the second move of one such market cycle. Third move is about to come. This will help in taking a right buy/sell decision.

Nifty 15 min Chart


 
Advanced Traders Training Program – 10 days to go
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Potential to move 46% from current level- Kiri Industries (Written on June 6, this stock moved over 50% since the date of article)


Disclaimer: The contents produced here are purely for educational purpose. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisory before taking any decisions based on above write-up.