Daily Chart
- NIFTY again breaking all time high of 8626 and closing positive for the week around 8835 after making a high of 8866
- The F & O expiry can be volatile week ahead with key events Greece Elections awaited
- NIFTY in expanding triangle on daily charts nearing short term channel resistance zone around 8870 – 8920
- The trend still remains bullish on the positive stage 8640 monthly support and trend decider level remains 8370
- Thus any dips can be bought into for next month ahead of budget for pre-budget rally can be expected with potential targets of 9300/ 9460 - 9520 with stop loss below 8350 stop loss
- The power stocks in focus and other budget oriented stocks can performing in coming months ahead as $250 billion investment for power sector to come in as narrated by Mr. Piyush Goel (Power Minister) during Davos meet in Switzerland
- The Nuclear deal & $400Cr loan to India and support for ‘Make in India’ boost by US president Obama on Republic day can lead up move in power equipment and power stocks further
- Also money flow to Indian Equities to continue as Europe starting QE of 600 Billion every month till September of 2016
- India being in a sweet spot and technically in Super Cycle Wave III
Raju V Angadi
Equity Research Analyst
To Learn simplified objective approach applying Advanced concepts of Elliot Wave Theory in conjunction with Dow Theory
& Psychological traits to trade with some common sense & optimize
your investment / trading decisions contact on:
rvangadi@googlemail.com (OR) +91 78291 55900
Note: This report is for educational purpose and the specific levels have not been mentioned.
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