Nifty Weekly Outlook for September 2012 Expiry

In Bull Market every good news is used by market participants to push market higher and every bad news is met small correction which is used by dip buyers to buy more. When Mamata DIDI took her support off UPA we made a correction of 50 points and when Mulayam told he will give outside support Nifty rallied the most in 2012, Typical characteristic  of Bull market so either stay on sideline but do not short the market and go against the trend which will hurt you both mentally and financially.

Whats in store for next week lets jump and see the Nifty technical outlook as we have Nifty September 2012 Expiry

 Nifty Hourly Chart

Nifty Hourly charts is heavily overbought with RSI,MACD  and Stochastic indicator consistently trading above 80. Overbought can remain overbought. When such big rallies come its always profitable to have look at higher time frames...

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