#141 Nifty Update: NIFTY tgt range 5947-6045 achvd!!!

Last i updated my blog for NIFTY was on 22cd October with above graph when Nifty’s close was around 5717. I had mentioned in tht graph that we may see new tgt in nxt rally with a pause around 5947-6045 and guess what todays high on nifty is at 6043 😀 :). And adding a cherry on the cake is the “bearish engulfing” pattern today, indicating some correction to the index which was what i expected.. But fingers crossed!! Confirmation is yet to come tomorrow. Looking at some charts of the A group a small correction is expected on all of them but the mid-cap index strong. To add support to mid-cap, steel sector was flooded with some good news of increase in import duty of steel from china which wld divert buyers to indian companies and could profit from them. Secondary steel companies have raised the price. So now next rally could be lead by steel and mining sector. Talking about nifty, i suggest you to be short with tgts of 5944/5830/5630 and stop loss of 6050 (Cash levels)

5 thoughts on “#141 Nifty Update: NIFTY tgt range 5947-6045 achvd!!!”

  1. Kush,

    As nifty has surpassed 6050 (Cash level) on closing basis, what would be the target for final wave 3. Please share ur views and update about nifty.

    Thanks for valuable guidance

    Salim Kabani

  2. hello salim
    sorry for late reply but was waiting for some downside confirmation to update..shall update new graph on nifty to soon but today we have seen a weak clsoing..tomorrows opening price could be the decider!!! m expecting 5840 minimum

  3. Hi Kush,

    Thanks for ur valuable guidance.

    In chart, i assume that final wave 3 will reach to 6550. May I right. Please share ur views.
    Moreover, I would like to call for personal guidance. Please cell No.

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