Nifty

Time for Nifty to be ShowStopper

BankNifty is already running successful show at D-Street and now its time for Nifty to be showstopper. Nifty was a bit volatile in last 200 points rally from 7600-7800 but now we could see some strong short covering upto 8225. Technically, as circled, index has taken strong closing support at 7670 which is 100 weekly average. On my last post on Nifty, i was waiting for this support and we have got that. Combining that with my Wave’s and Indicators, it makes my view strong for a short term target of 8225. May be FED decision is what you all worried but i guess, whatever be the decision, it should be in favor of short covering as chart says it first. I feel with Bank Policy on 29th Sept, Nifty could be Showstopper amongst global markets to outperform the most in coming weeks. So my advise to hold and go long on Nifty with tgts of 8225 n Strict sl 7670 

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