January 30, 2015 - Nifty Outlook For Next Week 5-2-15 to 9-2-15

Click to enlarge nifty weekly chart
  • Nifty is bullish if it is holding 8900 in the next week.

  • The distribution on Friday is the only significant move in Nifty for last week.
  • Nifty is not able to cross the resistance of the broadening formed in last seven months.
  • Nifty remains in the 16 month old rising channel & will continue to make new highs as long as its inside.
  • All Three important & popular trend following trading systems I am tracking are bullish on Nifty.
  • ITC Ltd. is having the highest , 8% weight in Nifty is weaker than Nifty. ITC is leading the Nifty since 2012. See the graph bellow.  Breakout bellow 345 might change the whole game for bulls.

 

  •  7800 on Nifty is extraordinary support zones , and is good stops for investors.
  •  USD/INR  has challenge to sustain above 60.

Thank You

Nishant Kalaskar

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