May 22, 2015 - Nifty Outlook For Next Week 25-5-15 to 29-5-15

  • Nifty is bullish as long as it is trading above 8500.

  • Divide Nifty in two ranges: Range 9100-8500 &  Range 8500-7900.  Its trading near the upper end of the second range. 

  • Nifty is overbought @ 8500 on the short term charts. ( It was oversold @ 8000 two weeks before! )

  • Recovery from 8000 to 8500 is a dull move and lacks conviction. The move ahead might be sharper & full of conviction.

  • Risk Reward ratio is not favorable for investors.

  • Two of three important & popular trend following trading systems I am tracking are bullish on Nifty.

  • ITC is leading the Nifty since 2012.

  •  USD/INR  has challenge to sustain above 60.

Thank You

Nishant Kalaskar

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