nifty forecast for next week 10 to 14 jun 2013

nifty forecast for next week 10 to 14 jun 2013

 

nifty daily chart technical analysis

nifty spot index on last trading session closed at 5881 with loss.on daily chart nifty trading below all short term averages with very bearish momentum.

on daily chart,nifty 3month average is 5925 and first major resistance from short term view.above that 5930 is month average and 5985 is week average and both are strong resistances.on downside supports are seen at 5750-5600 and 5500 levels.

nifty daily chart indicators are in bearish territory with sell signal suggesting momentum is now in hands of bears.while pattern wise 6000 is neckline and remain strongest resistance on chart.

nifty weekly chart technical analysis

nifty this week closed with loss.this was 3rd week of weakness in nifty and as expected long term correction continues.on downside 5845 is 6 month average,5710 is 12 month average and 5545 is 2 years average and last support of nifty bull trend.

this week nifty made high at 6011 while low was 5869.total 140 points week range and closed near lows.

nifty indicators on weekly chart also showing corrective pattern and next week may be correction may find support near 5840?

nifty forecast for next week 10 to 14 jun 2013

for next week,below 6000 hold sell on rise view and expect 5750 and then 5600 as downside targets.as rupee tumbling to new lows here we may see panic selling in some sessions as well as high volatility remain concern.

from medium to long term view,5840 is support on weekly basis if close below it then target will be 5710 and 5550 in medium terms and this will be deeper correction.

Read More :

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.
COPYRIGHT © 2017. Pramod Baviskar. Dalal street winners advisory and coaching services. FAQ | Disclaimer | Privacy Policy       

This website is best viewed using Microsoft Internet Explorer 9 or higher, and/or latest version of Google Chrome and Mozila Firefox browsers.