6 June 2015

NIFTY TECHNICAL REPORT FOR NEXT WEEK 08-06 -2015 & DAILY&WEEKLY CHART FOR NIFTY

DAILY RESISTANCE: 8173, 8234, 8331,8428 
DAILY PIVOT POINT: 8137 
DAILY SUPPORT:  8076, 8040, 7943,7846
DAILY CHART:


















WEEKLY RESISTANCE: 8398, 8655, 8884,9084
WEEKLY PIVOT POINT: 8226 
WEEKLY SUPPORT:  7969, 7797, 7368,6939
WEEKLY CHART:



















Technical analysis for Nifty future 
In last previous sessions, as we have predicted that in Nifty BEARS ARE ALSO CAN BE ACTIVE BELOW 8237 BEARS HAVE TARGET AT 8100. And nifty was achieved target of 8100.Nifty was again drag back indices to 200 EMA levels i.e below 8200 odd levels. So nifty also closed at 8114 and Nifty made low of 8101 intraday trade on Friday.  

Technically Nifty future is looking bullish on long term weekly charts, Usually, 200-DMA represents strong support or resistance for the index and; Nifty already broken the 200-day moving average on 2 june of 8330. and trading below that level post RBI outcome. so the markets was remain weak and made low of 8100, now If nifty breach 200 DMA as a resistance level of 8234 on Monday then we can see 8300, which could be the next support, now it may trade in range of 8500 and 8600 in near term while with the breaks of its support mark of 8234 .This Nifty weekly Log chart shows a pronounced uptrend within the blue channel trend lines. Still You can buy nifty positional for a target of 8600 with a stop loss of 8000.

ABOVE 8234 IT IS BULLS AREA

BULLS CAN MOVE TOWARDS 8500 AND 8600
BEARS ARE ALSO CAN BE ACTIVE
BELOW 8100 BEARS HAVE TARGET AT 8055 AND AT 8000 
PREVIOUS WEEK  EVENT: RBI POLICY
The market has fallen sharply after RBI has kept cash reserve ratio (CRR) unchanged. RBI cuts repo rate by 25 bps; no change in CRR, SLR With retail inflation easing to a four-month low of 4.87 percent accompanied by a slowdown in industrial output to 2.1 percent. Governor Rajan said "Banks have started passing through some of the past rate cuts into their lending rates. And the timing of normalization of US monetary policy seems to have been pushed back. With low domestic capacity utilization, still mixed indicators of recovery, and subdued investment and credit growth. 
DAILY CANDLESTICK PATTERN BULLISH TRI STAR:
This pattern “bullish tri star” is a sequence of three Doji. The occurrence of this pattern is extremely rare, so when it occurs it should not be ignored. Bullish Tri Star requires that we have a market, which was in a downtrend for a long time. However, the weakening trend is probably indicated by the bodies that are becoming smaller. The first doji is a matter of concern. The second Doji clearly indicates that market is losing its direction. Finally, the third doji warns that the downtrend is over. This pattern indicates too much indecision leading to the reversal of positions. The stop loss level is defined as the lower of the last two lows. Following the BUY, if prices go down instead of going up, and close or make two consecutive daily lows below the stop loss level.

1 comment:

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