13 February 2015

NIFTY TECHNICAL REPORT FOR UPCOMING WEEK 16 FEB 2015

While analysing the Daily charts of “NIFTY”, we found that it appears strong -:

~ Nifty has recently made a Swing low which would again take it to all time high levels as it has done earlier.

~ Nifty has made the last swing low by making “Piercing Line” formation on the Charts.

~ Nifty has just bounced back from close to previous resistance levels of 8400. As per “Theory of Polarity”, it has positive implications

~ We have seen reversal in RSI which could further push Nifty upwards.

Nifty can be bought on corrections in the range 8620-8660 for a target of 9200 with a stoploss of 8300 on closing basis. All the levels mentioned in this Technical report are spot levels.

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