Aug22-W4: Nifty has turned but what’s the target? (Aug22 to 26)
Atualizado
What I said last week was that I Nifty momentum indicators are exhausting and Nifty shall begin descent if stochastic does not go above 98.72. This turned out to be correct, though it took the whole week to be correct. Now the following is my analysis for coming week:
Nifty cannot go up. At best, the rise can be till 18125 just to make a higher double top. The higher probability is downward direction but the momentum is not there this week to make a catastrophic fall. At best, Nifty can drop till 17225 level.
Scenarios for the week ahead (highlighted as yellow box with red and green lines dissecting scenarios)…
Consolidation - Between 17850 and 17550
Downtrend - If breach below 17550; to drop somewhere till 17225
Uptrend - If breach above 17850; to rise somewhere till 18125
The price of milk has increased in India due to rise in price of wheat, maize etc. This inflation is relentless. And yet, Nifty’s performance against other emerging markets is more than phenomenal.
DISCLAIMER: I am not a SEBI registered adviser. All the information provided on this website is for educational / informational purposes only and should not be taken as investment advice.
Nifty cannot go up. At best, the rise can be till 18125 just to make a higher double top. The higher probability is downward direction but the momentum is not there this week to make a catastrophic fall. At best, Nifty can drop till 17225 level.
Scenarios for the week ahead (highlighted as yellow box with red and green lines dissecting scenarios)…
Consolidation - Between 17850 and 17550
Downtrend - If breach below 17550; to drop somewhere till 17225
Uptrend - If breach above 17850; to rise somewhere till 18125
The price of milk has increased in India due to rise in price of wheat, maize etc. This inflation is relentless. And yet, Nifty’s performance against other emerging markets is more than phenomenal.
DISCLAIMER: I am not a SEBI registered adviser. All the information provided on this website is for educational / informational purposes only and should not be taken as investment advice.
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