Sunday, March 26, 2017

Nifty Fork and ABC Levels March 24, 2017


  1. Thanks sureshji btw what does this chart suggest for end march and April sir . Does it suggest 8700 coming before we move ahead above 9218 .

    1. The charts suggest significant overhead resistance. Nifty could react first before taking out the resistances. This may happen in April. Whether it is 8700 or not remains to be seen. It tells us not to over commit now and to wait for declines before taking big commitments in the market.

    2. Okay so do we see any dates here in your chart when can the fall happen in April before we commit to long positions again .

  2. Hello Sir,
    Here from the chart u mean to say that nifty stiff resistance lies near 9308 level. so nifty can move till 9308 level first till 4th of April and then can react downside till 9000 sub level..
    With rgds,

  3. Since Nifty has now crossed 9133 levels convincingly, we may expect 9218 to be challenged.Then a good decline may manifest...even sub 9000.

  4. Nifty has today crossed the resistance of 9218, Now what is next in nifty. As mentioned in earlier blog new high will come till 04th april, so is it possible that after 04th april nifty will not move up and we can expect a fall
    Manish Munot

  5. Yes, Nifty is very close to the resistance level of 9300 to 9350. Not yet time to short but. We can expect profit booking any time now.
    Use declines to accumulate.