NIFTY Weekend update

• Last two charts the monthly Bollinger band and the weekly parallel lines shows nifty close to the end of this fall.
• Recent low of 4796 was broken and price came down till 4720 levels. If price manage to stay above 4796 again we may see an up move in nifty.
• But the problem for nifty is the Large cap stocks which are making new yearly lows. So Stocks like reliance, sbi, Tata motors and Tata steel should make a bottom for nifty to do a decent bounce.
• Below 4700 price may move towards 4660 levels. Nifty has the parallel line support Near 4660 level. 
• GOLD MOVING UP AGAIN
  
• BANK NIFTY WEEKEND UPDATE