As i intimated in my last post tht #nifty could see some slide down to 5944 n today it was almost achieved today. Just forgot to inform you guys tht whtever tgt i give on nifty, you should consider +/- 5 points as most of the traders follow technicals and sometimes all of them get common targets. Anyways coming back to NIFTY chart today i have seem some development of strong support if i consider only RSI. But taking into consideration “small double top” at 6101-6111 , 5921 is inevitable target. Even a medium term average is exactly at 5921 today. But 5947 was also a important support. So now next 2 session are gonna be crucial. Taking into consideration my Time analysis, 6th or 7th Feb could be the turn around day or you can say crucial day which could have a breakout on either side. So if the market make low in the range of 5921-5944 n see some upide thn go long blindly in next 2 days and on other side if you see close below 5921 in next 2 days thn go short blindly. I am biased on bulls to return within next 2 days. Will post you guys back once i get some confirmation.

2 thoughts on “#142 Nifty Update: 6/7 Feb and NIFTY 5921-5944 could be the turn around point!

  1. salimkabani

    Hi, Kush,

    Thanks for updation on Nifty during such complicated moves.

    U have shown 5921 as A, it means correction is expected ABC than what would be the final target of this correction. Please share ur views.

    Reply
  2. Kush Ghodasara

    hello salim bhai,
    if NIFTY takes support abv 5921-5944 in nxt 2 trading sessions thn this could be the low of nr term and we may see some upside to 6100…otherwise 5862 is the nxt tgt…

    Reply

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