Nifty closes at Multi year high,Weekly Analysis

Last week was one of the most dramatic week in recent time with Sensex plunging 400 points on Monday and recovering and positing a spectacular 500 points rally and closing Market  above 28 week high. Standard and Poor affirming India’s sovereign rating at BBB- and saying that there was one in three chance of a rating downgrade over the next 12 months did not affect the market mood.Next week  SBI, L&T results this week.So lets see how to approach nifty trading for next week.
Last week we gave Trend Deciding level as 6120 Nifty achieved 1 weekly targets on upside and all 3 downside triggered.

 Nifty Hourly Chart

Nifty Hourly charts is now facing..

Continue Reading