Following lines were told yesterday in Technical Analysis,Research & Weekly Outlook(Oct 13 to Oct 17,2014)
As most depressing Global markets yesterday therefore Nifty slipped below 7818 but could not sustain and recovered and today trading within last 10 Sessions trading range. Markets start decisive moves after complete technical positions formation and till then remain sideways as well as prepare for next trend. Finally sustaing beyond last 11 Sessions trading range(7796-8030) will be next big trend confirmation/strong indication and should be watched now.
Nifty will prepare for next big moves within and near about this range for next decisive moves and sustaining beyond last 10 Sessions trading range(7818-8030) should be firstly watched in the coming week
As most depressing Global markets yesterday therefore Nifty slipped below 7818 but could not sustain and recovered and today trading within last 10 Sessions trading range. Markets start decisive moves after complete technical positions formation and till then remain sideways as well as prepare for next trend. Finally sustaing beyond last 11 Sessions trading range(7796-8030) will be next big trend confirmation/strong indication and should be watched now.
Let market prepare then will be updated from intraday charts analysis in the same manner as being done for the last more than 4 years.