Nifty January 2017 outlook

Nifty January 2017 outlook

Nifty future major support 8120 tgts 8340 and 8515

Nifty future last closed at 8187 with gain. Nifty future this week given bullish breakout above 8120 level which was major resistance for January series. Nifty future is in uptrend and if sustain above 8120 on daily closing basis. Then it will head for my January series target of 8340 and then 8515.   If nifty future fails to hold 8120 on daily closing basis then it will resume primary long term corrective trend. Below 8120, nifty future remain weak and sell. Nifty future bearish zone targets are 7945 and then 7720. Daily closing below 7720 means super bearish trend for month and downside targets of 7550 and then 7325.   Nifty daily chart price pattern is bullish but indicators are mixed and still reflecting underlying weakness in market. That why market probably go down than up. Global markets are also trading in overbought positions and domestic factors will going to hit market in short terms.

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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