Drop your number, and we will call you

NIFTY

10906.95      1.75 0.02%

BANK NIFTY

27456.70      -72.05 -0.26%
ACC 1439.75 (-1.06%) Link
Symbol     LTP Chng%
KRBL 379.90   + 12.03
VAKRANGEE 50.50   + 4.99
RELIANCE 1184.35   + 4.40
FLFL 407.35   + 4.36
8KMILES 151.80   + 4.33
Symbol     LTP Chng%
LINDEINDIA 614.10    -20.00
SPARC 148.25    -13.66
PHILIPCARB 183.65    -11.56
SUNPHARMA 390.75    -8.39
INDOCO 198.85    -8.11
View All

Nifty Rally of 627 Points may seems to be entering a short correction soon..

tushar
11/3/2014 12:00:00 AM
  315
  0

Nifty Rally of 627 Points may seems to be entering a short correction soon..

Nifty current uptrend started on 17th October, 2014. It hits low of 7723.85 and today it hits high of 8350.6. Total 627 point bull run seems to be halted for a time being before starting a fresh rally...

We have observed one of the longest bull run in Indian Stock market. Since more than one and a half year nifty is in continuous bull run. In this long bull run, we have observed consolidation or correction on number of occasions. Nifty has never shown continuous up move of 1000 points in a single uptrend. Every 600 - 700 points Nifty is taking some rest or say it shows a bit of correction. This bull run lasted 17 days with 3-4 day mini consolidation from 22nd to 28th October, 2014.

The current Bullish trend has already shown more than 600 points bull run with mini consolidation of 22nd to 28th October, 2014. Today it opened gap up at 8348.15 and came down up to 8324.15, making a spinning top type of red candle on the top.

This is an indication of bearish move. The nifty seems to be bearish for a time being. Means it may give few red candles or red green candle combination for next few days. Holidays coming in the way may also add to this situation.

If Nifty shows correction, then it has supports at 8180. Nifty is supposed to trade in the range of this 8180 to 8450. At 8450 it has resistance.

Note: Though Nifty is showing correction mood, it is to be noticed that markets are in long term bullish trend and over all trend will remain bullish unless any major incidence occurs in macro - micro economy...

Trend is Friend....Happy Trading...
Team Technicals
NSEData.com

Write your comment below

Client's Spotlight

Technical Indicators

Our Partners

Fyers-traderguide.in
Zerodha-traderguide.in
Tradejini-traderguide.in
5paisa-traderguide.in
stockphoenix-traderguide.in
  • For sales: +91 74051 00012

  • For support: +91 74052 00012