Nifty Weekly Review
Last week, the Nifty lost more than 200 points closing at 4868 after showing a high of 5168 and a low of 4830. This is about twice the ATR indicating, high volatility in the week ahead of the September series expiry.
During the week, on 20th Sept 2011, we had predicted "A Breakdown seems imminent now" which did occur on the 22nd and 23rd of Sept 2011. The whipsaw like movements continue on the Nifty, and we feel it will only increase in the coming week.
We believe that the zone between 4830 and 4740 might act as a support for the Nifty and the 4930 4990 might act as an immediate resistance to the Nifty in the coming week.
All in all, a adrenaline filled week seems to be ahead of us, and we look forward to booking some sizable profits along the way.
Happy Trading !!!
For cash market recommendations see our Daily Pre Market calls on NSE
Last week, the Nifty lost more than 200 points closing at 4868 after showing a high of 5168 and a low of 4830. This is about twice the ATR indicating, high volatility in the week ahead of the September series expiry.
During the week, on 20th Sept 2011, we had predicted "A Breakdown seems imminent now" which did occur on the 22nd and 23rd of Sept 2011. The whipsaw like movements continue on the Nifty, and we feel it will only increase in the coming week.
We believe that the zone between 4830 and 4740 might act as a support for the Nifty and the 4930 4990 might act as an immediate resistance to the Nifty in the coming week.
All in all, a adrenaline filled week seems to be ahead of us, and we look forward to booking some sizable profits along the way.
Happy Trading !!!
For cash market recommendations see our Daily Pre Market calls on NSE
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