September 8, 2015
- 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.
All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.