Last week’s prediction was a politically predict statement. It would not be fair to call it a prediction anyway. I said that Nifty could go either way after 2 days. I have been proven wrong as market chose the upside instead of downside.
Now 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)
Someone has to name this trend which has existed post-pandemic. Should I name it the pandemic trend? I mean, even hurricanes are named alpha, beta, gamma etc. The trend has behaved itself whenever it goes to high. It follows law of moving averages, somewhat.
The time has now come for it to behave again as it finds itself to respect the red parallel channel and an overstretched Bollinger band. This can happen over the course of next couple of days but unsure what would happen subsequently. Maybe, Nifty will make another top.
Scenarios for the week ahead (highlighted as yellow box with red and greeen lines dissecting scenarios)…
|Scenario||Anticipated Price Action|
|Consolidation||Between 18600 and 17950|
|Downtrend||If breach below 17950; to drop somewhere till 17575|
|Uptrend||If breach above 18600; to rise somewhere till 18975|
Other than Nifty, Bitcoin too has gone crazy. If one looks at global equity indices and crypto indices, it would give an impression that everyone in the world is rich…but are we?
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.