Nifty trend

Will The Nifty take out its all time high of 6358?

  • YES

    Votes: 21 63.6%
  • NO

    Votes: 12 36.4%

  • Total voters
    33
  • Poll closed .
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josh1

Well-Known Member
Hangseng opened 140 points up but went down quickly.



Nifty cut the 14 DMA from above at 6160 and is between 14 and 15 DMA(6017). Therefore 6000 is still crucial support. If it takes the supporto, I feel it will go up to 6160 before turning down. Nifty seems to be in broadening formation which is bearish but to complete it, it has to close below 20th October low of 5967.
Nifty close below 5967 decisively completes the broadening formation. Top 6339-5967= 372 points. Next target 5967-372=5595, say 5600.

A pull back to 5920-60 is possible.
 
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