Nifty Weekly Outlook for Week Beginning 10 September
Mario Draghi has opened Bazooka for Bulls with its new Bond buying program Outright Monetary Transactions(OMT).
S&P hit 4 year high Nasdaq at 12 years high Gold moved to 1740 $
Euro at 1.28. The Financial market love one world in short term which is
Liquidity and as a trader never fight the power of
Liquidity. It has been proved time and time again from 2009 after
financial crises. Look at the performance of Indian Markets they are up
12% Year to Date when we have twin deficit ie. fiscal and current
deficit spooling up, rotting macro fundamentals,Coal scam parliament
logjam etc. again power of liquidity. Play till music lasts and do not be a die hard bear looking at rotting fundamentals.
Whats in store for next week lets jump and see the Nifty technical outlook
Nifty Hourly charts were moving in a perfect channel till Thursday where they formed multiple bottom at 5217 gave a rally till 5260 where 50 Hourly SMA acted as resistance and market fell in dying hours,Friday was big gap up and now they are moving in perfect hourly channel. Next resistance comes at 5400 and Support on Hourly chart comes at 5330
Read the Full Story
Whats in store for next week lets jump and see the Nifty technical outlook
Nifty Hourly Chart
Nifty Hourly charts were moving in a perfect channel till Thursday where they formed multiple bottom at 5217 gave a rally till 5260 where 50 Hourly SMA acted as resistance and market fell in dying hours,Friday was big gap up and now they are moving in perfect hourly channel. Next resistance comes at 5400 and Support on Hourly chart comes at 5330
Nifty Gaps
Gaps formation in Nifty Daily chart pattern, 4 gaps...Read the Full Story
posted by Bramesh at
10:09 AM
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