The following is my analysis for coming week based on what I am looking at (You may want to open image in new tab or save it for better view)
I am no expert at wave theory but if this is onset of downtrend, then one more wave of reds is yet to come. Before that happens, Nifty may inch up a bit. On the other hand, if this is A-B-C type of correction, then this is mostly over? Anyways, this is a very short week and I wonder how much can Nifty swing in 3 days especially when we have 3 big fat red candles in the backdrop.
Scenarios for the week ahead (highlighted as yellow box with red and green lines dissecting scenarios)…
|Scenario||Anticipated Price Action|
|Consolidation||Between 18050 and 17400|
|Downtrend||If breach below 17400; to drop somewhere till 17100|
|Uptrend||If breach above 18050; to rise somewhere till 18600|
Diwali muhurat trading has a history of taking the market up. Let’s see
DISCLAIMER: I am not a SEBI registered adviser. All the information provided on this website is for educational / informational purposes only and should not be taken as investment advice.