Nifty Weekly Outlook before RBI, Fed policy

Last week was roller coaster ride for Stock market traders/investor. Market opened up with huge gap up on BJP state election victory and blue channels were saying target of 6700-6800. Correction started on same day and in next 4 trading days nifty corrected 254 points and now many analyst is calling for target of 6000 sub levels. So with a fall of just 250 points how sentiments moved from extreme bullishness to excessive bearishness. In such taxing times only saviour for trader is to have a trading system and trust the same.

Nifty Hourly Chart

Nifty Hourly charts looks like a chart of mid cap low liquid stock with so many gap down, Positive divergences visible on Hourly chart Holding 6141-6170 range pullback till ..

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