Dated :- 04.10. 2015

                                                                      NIFTY SPOT : 7950.90

Hi,

Readers,

Nifty moved up exactly as was mentioned by me in my previous blog dated Sept 27, 2015.

It was clearly mentioned in last paragraph that While spending time in the range if at all Nifty comes back to test around 7620 levels again. And then it makes some pattern and starts moving up then that move up can be given more weightage.

Nifty almost did the same it made a low of 7690 and bounced from there. It would have even went further down to touch 7620 but 50 basis point Rate cut +ve surprise by RBI helped it to move up and recover from 7690.

The analysis of Momentum indicators was also pin pointed perfect. They were not ready to go up immediately thus the down move of more than 170 points from 7870 to 7690 was first happened and after that Nifty went up. However if Nifty would have touched 7620 then the comfort level from the rebound would have been much more. But mere 70 points miss from 7620 does not mean that move is false. Nifty is moving as analyzed in my previous blog.

Now What :-

After a long time, As on today the charts are not giving clarity of the next move. Nifty is showing strength but the level of strength it showing is not present in indicators.

Chances are good that Nifty may break 8060 on the up side for once. But if so, then what next ?

After a long time the charts are not clear for the next move from here. Charts are showing that till 7880 is protected on the downside Nifty may well be getting ready to touch 8200. But some of my important indicators have still not turned positive. Since they have not turned till now, this becomes the time to wait for clarity.

I want to see the movement of Nifty for next couple of days to get more clarity.

Looks like that the next week can be full body candle week on either way. Let us see.