Last week, we expected increased volatility and two way movements in Nifty. It continued the down move which began on September 08 and crashed swiftly to 7923, from 8180, on September 16, 2014.After forming a basing action on September 17, it recovered dramatically on 18th and 19th till it hit 8160 and thereafter consolidated to end the week at 8121.
Here are the wave updates....
One more view of the daily...
Here is a special chart...long term ...for Nifty
To sum up...
This week also volatility shall continue.Nifty may weaken a little on Monday and after that move up for a couple of days.Towards the weekend, correction may set in, especially if Nifty crosses 8200.
My Dear sureshji
Thanks for the weekly update.
You had once said, (may be a year back) more queries mean better clarity all - around.
But your updates is so clear that it does not warrant a query at all.
Thanks once again
Hi Suresh - you were bang on tgt when you said Nifty will bottom out on 17th and rise rapidly.... super work :)
Thanks a lot for the guidance.
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