Thursday 17 September 2015

nifty technical picture & outlook 18-9-15

THE TECHNICALITY
    · The above is a Nifty Spot Intraday graph.
    · Resistances on NIFTY are 7929 / 7948 / 8025.
    · Support Levels for NIFTY are7879 / 7853 / 7801.
    · The Technical Outlook is clear. Consolidation continues prior to another phase of decline which seems to be near or n the cards.
    · Current 4th Phase may be a triangle or a flat wave pattern in a big range as witnessed but on the verge of completion.
    · Good Luck..
THE OUTLOOK
    · A BIG NO to any sort of a Bull Strategy. Avoid falling into a bulls trap.
    · Anytime soon decline will begin & the current trend is BEARISH.
    · Hope the above 2 sentences are enough to keep you thinking & accordingly strategize your trades.
    · HAPPY TRADING ..
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