NIFTY Spot : 6266.75
Hi,
Readers,
FIRST OF ALL
HAPPY REPUBLIC DAY
What a day to write
today’s blog.
Which gives double
pleasure one of Republic Day and the second of accurate prediction on Nifty once
again like many times before.
Readers of this blog
should note that I have been regularly maintaining the stand in my previous
blogs that Nifty will not break 6420. And 6360 will act as major resistance.
This once again proves
the point that Nifty movement can be predicted through technical analysis.
Nifty even after its many
days of consolidation managed to touch only 6355 (could not break 6360) and
came down sharply.
There were many
technical indicators which were saying that 6420 will be very hard cookie to
bite. And whenever this happens Nifty normally falls sharply.
I hope readers would
have enjoyed my caution and the fact that Nifty will be inclined to correct
& 6420 will not break.
Now What :-
Nifty has corrected as
expected.
Now Nifty will trade
with –ve bias below 6230.
Below 6150 further
downside can be expected.
Remember in these kind
of scenarios Nifty movement either becomes sharp or it becomes volatile.
Now on upside 6360
& 6420 will remain major resistance.
Enjoy the profits.
On Jan. 28, 2014(Tuesday)
there is RBI policy. Keep watch of that also.
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