Nifty forecast for 9 to 13 sep 2013

Nifty forecast for 9 to 13 sep 2013


nifty daily chart technical analysis

nifty spot index on last trading session closed at 5680 with gains.on daily chart nifty trend is at bullish breakout while momentum is strong bullish with sharp short covering.

nifty on daily chart shows,nifty just closed above 3 month average of 5670 and now it will act as strong support.below that 5540 is nifty month and week average support zone.on upside 5750-5900-6100 are major tops and upcoming targets as well as strong resistances.

on daily chart nifty cci is +110 with bullish divergence while rsi is at 52 and with buy signal.


nifty weekly chart technical analysis

nifty this week closed with heavy gains.this week nifty spot made low near 5318 while high was near 370 points week range which is very high volatility move and closed with gains.

on weekly chart nifty now trading above 2 years average level of 5590 and look like holding bull trend.on upside 5720 is nifty 12 month average while 5750 is 6 month average and both remain as strong resistances.

looking weekly chart for now seems to be last 2 weeks downside move was bear trap?

on indicators nifty cci is –86 and off the low and forming small bullish pattern while rsi is at 49 and near breakout level.

Nifty forecast for 9 to 13 sep 2013

for next week,nifty above 5650 on closing basis remain buy on dips and traders must keep targets at 5750-5900 and then 6100.traders can also buy nifty next month call options of 5800-5900 levels with strict stoploss.

as volatility remain to be high we may see high volatile move on both side and trading not remain so easy in upcoming period.

from medium to long term view,above 5580 investors keep long view and keep target at 5900-6100 in medium term while new high can be seen in long term.last 7 week nifty given more than 250 points weekly volatility that means investment also seem to be very difficult and here also losses may trigger on account of volatility.

The Author

Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
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