Dated :- 16. 10. 2014                                 NIFTY SPOT : 7737.70

Hi,

Readers,

Like always before Nifty’s analysis is “Bang on Target” again.

It was clearly mentioned in my previous blog dated Oct. 12, 2014 that Ideally Nifty should break 7800 within 2-3 trading sessions. And look, today, i.e. on 3^rd trading session after my blog Nifty broke that 7800 level (yesterday Oct. 15, markets were closed). This 7800 level was broken like pack of cards and Nifty made a low of 7729 and closed at 7737. It was always on the cards and was signaling to be coming. I had been mentioning in my earlier blogs that this Nifty is inclined to come down.

Various technical parameters are indicating that logical targets for Nifty on the downside are 7690, 7580 and 7460. These logical target levels are also support levels for Nifty, wherein 7460 is major support for Nifty.

On upside as mentioned in my previous blog also 7960 is very stiff resistance. And now 7893 will act as intermittent resistance.

Trade accordingly and Enjoy the profits.