Nifty Weekly Technical Analysis for Week beginning 30 Jan
Nifty had a fantastic start of year up 12.6% till date rising on back of equity buying by FII and value buying seen by HNI and retailers.
FII has pumped in 8000 cores in Jan Month alone,One of the biggest buying streak seen in recent times. Next week will be an interesting trading week as Nifty is approaching the crucial 200 DMA zone .
Last week we discussed Nifty Trend deciding level as 4995 is bound to move up and same happened this week with Nifty made a high of 5217 just 3 point short of our final target 5220
On Hourly charts shown above i have pointed all the 5 Gaps which have been left unfulfilled from the rise of 4640-5217 on Nifty Spot. For a healthy rising markets such gaps needs to be filled as it can be considered as VOID left in a newly constructed building. Gaps will get filled in next downleg of Nifty most probably in February.
Read the Full Story
FII has pumped in 8000 cores in Jan Month alone,One of the biggest buying streak seen in recent times. Next week will be an interesting trading week as Nifty is approaching the crucial 200 DMA zone .
Last week we discussed Nifty Trend deciding level as 4995 is bound to move up and same happened this week with Nifty made a high of 5217 just 3 point short of our final target 5220
Nifty Hourly
On Hourly charts shown above i have pointed all the 5 Gaps which have been left unfulfilled from the rise of 4640-5217 on Nifty Spot. For a healthy rising markets such gaps needs to be filled as it can be considered as VOID left in a newly constructed building. Gaps will get filled in next downleg of Nifty most probably in February.
1 Gap :4641-4676 ....
Read the Full Story
posted by Bramesh at
10:22 AM
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