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Showing posts from September 20, 2013
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NF (6145) - on 16th Sep posted the upside target 6080-6110, yesterday gap up open and morning itself it made high 6117 (that is above the mentioned upside target) but afterwards it corrected but never go down below 6080 and intra day it repeatedly made low and took support 6080+ and afterwards it made high 6174.80 and closed at 6142
now what next ? 
so now support 6110-6080 
above that upside target and hurdle or even top out 6230-6260
But below the support next in down side 6030-6000 & 5940-5920

BANK NIFTY

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BANKNIFTY (11148) - Posted on 06th Sep. "target and resistance 10100-10255" this target attacked on 10th Sep and afterwards in the last three days it hold above 10100-10255 range and yesterday it zoomed to 11219
Today RBI policy
Hold  above 11025-10880 next upside target and  Top out  at  11800-12000
below 11025-10880 next in down side 10100-9900




NIFTY - spot an update

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NIFTY (6115) - After seeing the recent movement that is from 5119 to 6142 that to with in 15 trading sessions, naturally everybody searching for the top out number.
but i don't see any particular number for top out. 
This top range is 7 years old  that is we are seeing this 6000+ range since 2007 on wards.
So now the target and hurdle 6200-6400

In case if real break out happen  then we may see  minimum upside target 7300-7400,  optimum upside target 8100-8300  and  Ultimate upside target 10300-10600

If the targets are so high, then we need big confirmation then only we can rely on the break out.
So if break and stays above 6200-6400 only, above mentioned upside targets are possible  (weekly and monthly close are must)
Otherwise this is the top out and/ or  may spike and touch 6594 (+/- 1 %)  and from there once again down ward journey going to starts... 
and as usual down side targets are 5525-5472, 5225-5175 and 4775-4725