Nifty Weekly Forecast before Oct RBI Policy

Last Week we gave Chopad Levels  of 8851, Nifty opened with gap down and traders were not able to initiate trade as per Chopad levels, Aggressive traders who shorted below chopad levels should have been rewarded. We have mentioned  last week we are entering a crucial week as per gann analysis as the effect was seen as Nifty corrected by 220 points highest from the bottom made on Feb 2015. So as I always say Price knows everything well in advance.
Lets analyze how to trade nifty in coming week as we enter the last quarter of 2016 and RBI Policy in coming week.

Nifty Hourly Chart

As discussed in last analysis break of 8803 can see nifty correcting back till 8761/8700.  Bullish on breakout above 8851 for target of 8903/8950.
Nifty did the target as we expected

Continue Reading