Nifty Yearly Technical Outlook with Time Analysis for 2017

Sunday, January 1 Leave a Comment

Wishing Dear Readers a very very happy and prosperous and profitable new Year.
Traders New Year's Resolutions for 2017
2016 year started with a  fall  in first 2 months forming a bottom on Budget day 29 Feb 2016 @6825 when both Gann Price and Time Squaring happened. Nifty staged a spectacular rally all the way till 8969 where again Gann Price and Tine Squaring happened and we saw a Big reversal and fall till 7893. Nifty clocking a gain of 3% in 2017 incidentally last 3 days gain were also 3% :).  We can consider 2016 as year of consolidation, So Last 2 years have been years of consolidation, Expect some good move in coming year. Quarterly and Yearly chart of Nifty are shown below.

Yearly Chart

Yearly chart have formed an Spinning Top candlestick
A Spinning Top indicates a strong fight going on between the bears and the bulls. The bulls are giving it their all, as are the bears. Nobody has won the fight yet, so the candle closes near to its open price.Open of Nifty was 7938 and Close was 8185.



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