September 8, 2015

Nifty update

  • Nifty near 100 week sma and previous price cluster which may bring some relief for bulls. The technical s would look really bad if this cluster zone is not held. If held nifty may remain in a broad range between the all time high and this cluster. Further bigger direction or longer term move for nifty will happen only when these two levels are taken out. Monthly chart is especially looking bad for bulls. Expecting price to hang around this cluster for some weeks and a bigger breakdown possible in the coming months.

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