6200 is crucial level for every one.If nifty won’t break and sustain above 6200, it may trade at or below 5600 in next 4 to 6 weeks as per weekly chart previous move… immediate support will be 5843.
On breaching of 6200 nifty can trade 6290 6350 before Deewali
Nifty moved up on Friday open interest decreased why ? because no one was willing to buy at 6200 level …only traders who were having margin issues were covering their short positions …Big players who bought at lows and moved up they had closed their positions before 3.30 PM so open interest decreased .They may or may not play same game on Monday .
Bank Nifty covered its losses and nifty moved up will bank nifty continue its positive journey ? No major addition in OI spotted on Friday and RSI trading above 80 on 30 Mins Nifty an=d bank nifty charts
so Watch intra day real time charts and stay at chat room Dhanvarsha for real time calls tips and support.http://dhanvarsha.in/chatroom/
An excellent article composed and presented by Om sai ram for next week nifty move at http://dhanvarshagrp.blogspot.in/2013/10/globaljoy-niftyaction.html
possible weekly nifty range for nifty is 6180 plus minus 180.
6200 is Crucial - Aar Paar ki ladai
Very Good chart analysis. Mr. Kailash.
ReplyDeleteYes, I agree, weekly chart, signifies a double top already, hence we look forward for a breakout @ 6286, only if Bulls and DMA co-operates.
For next session following is a good S/Rs.
If 21-10 NF Open > 6210.45, NF Buy@6286-Sell@6248
If 21-10 NF Open < 6210.45, NF Buy@6173-Sell@6134
Enjoy
omsairam
True mr OSR
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