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Monday, 4 May 2015

Nifty view for May 2015 series - 4 May 2015

Hi,

Nifty is at cross - roads after remaining under tremendous pressure for the last 2 months.

March-April saw markets getting corrected from high of 9100 to low of 8100 with big swings in between.

Technical formation is signalling big bullishness which should run for several weeks. Also there is a possibility of sideways movement for several weeks. Market is not giving any sign of a fall at current levels. 

Some pressure at come near 8550 - 8600.

Bank-Nifty is clearly not a buying candidate anyhow right now. It might become a buying candidate after a  week or two, may be.

With many important stocks giving bounce-back signals, traders are advised to remain on the long side, and have a look at our trading blog.

So, we can deduce that markets are not giving any big sell signal which can take markets down below April lows substantially. And markets are not giving big time Buying signals too. So, we are expecting them to remain between 8600 - 8100 in this series. 

Anjum S Khan
admin@tracknifty.com
Admin/Analyst
TrackNifty.com