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Friday, 17 January 2014

Nifty January 2014 series analysis forecast - 17th January 2014

Hi,

Nifty today 60 points to close at 6261.65. 

In swing charts it is forming a bullish harmonic pattern.

Based on this pattern  it is expected to hit 6400+ levels by 21st January 2014.

Today FIIs were net buyers in stock futures and in equity segment too FII + DII combined bought equities worth 216 Cr. 

Stop loss for longs is 6220, Target 6415.

Nifty likely to remain rangebound between 6415 - 6280 until expiry.

Anjum S Khan
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