October 23, 2014 - Nifty Outlook For Next Week 27-10-14 to 31-10-14

Click to enlarge nifty weekly chart
  • Nifty is bullish if it is holding 7900 in the next week.

  • This week’s rally is quite faster than the last four week fall in Nifty.
  • Nifty can enter inside the rising channel if it starts trading above 8090.
  • There is divergence between IT index and Bank Nifty.
  • Three important & popular trend following trading systems I am tracking remains bearish on Nifty.
  • Watch 8000-8100 as possible supply zone for Nifty in next week.
  • Intermediate Market Breadth is ditrorating remains negative.
  • 7000 & 7400 on Nifty are extraordinary support zones , and are good stops for investors.
  •  USD/INR  has challenge to sustain above 60.

Thank You

Nishant Kalaskar

 

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