Indian Stock Market weekly forecast
Nifty weekly tips for 11 to 15 march 2013
nifty spot this week closed at 5945 with huge gains.this week nifty spot index made low near 5700 while high was near 5950.total 150 points recovery rally with bullish breakout above 6 month average.
technically after slipping below 6 month average nifty made lows near 5690 and was heading towards 12 month average 5610 but fundamental changes and as us market at historic highs reversed market mood and below 6 month average move was resulted as trap for most of the traders.
for next week nifty outlook remain positive and nifty has upside reversed targets at 6000 then then 6075 on downside 5775 and 5690 are major supports for now.
on weekly chart,nifty rsi take support at 50 and given fresh buy signal while cci recovered from oversold conditions and now at 24.macd is below zero and with bearish crossover.
for month of march if hold 5900 on closing basis and news flow support market then expect now high around 6100 to 6200.
traders must watch next month 6000-6100 call options as investment opportunity as risk and reward really favorable here.
Bank Nifty weekly tips for 11 to 15 march 2013
bank nifty spot index this week closed at 12197 with huge gains.this week bank nifty index low was 11453 while high was 12219.total almost 800 points bottom to top rally and fresh long term breakout above 6 month average.now on weekly chart this is reversal move and look like bank nifty heading towards last top of 13000.
for medium to long term view targets revised to upside around 12400 and then 21950 while on downside 11860 is first major support.
on weekly chart,bank nifty weekly cci is –17 while rsi taken support at 50 and given fresh reversal buy signal.
Sensex weekly tips for 11 to 15 march 2013
sensex spot index this week closed at 19683 with huge gains.this week sensex made low near 18760 while high was 19706.total almost 1000 points rally from bottom to top.with strong reversal sensex given long term breakout above 6 month average of 19055 and resumed uptrend.
for next week expect upside targets at 19750 and then 20200.while for month of march 2013,sensex if hold 19600 then expect 20400 to 20800 as target in this month?
on weekly chart,sensex rsi taken support at 50 and given fresh buy signal.macd is with bearish divergence and below zero while cci is bounce back from oversold state.