NIFTY TREND ANALYSIS – OCTOBER 2017 | Graphing The Trend Strength Direction Overview.

KBL Auto Signals 5:16:00 PM
Nifty Trend Analysis
Nifty closed the week on fine word gaining around 2.00%.
There is strong resistance for the index lies within the region of 10090 to 10150. Resistance for the index lies inside the area of 9930 to 9960 in which short term shifting averages are lying. If the index manages to close above these tiers then the index can pass to the levels of 10090 to 10150 where the index has shaped a double top within the month of August-2017 & September-2017. throughout the week the index manages to hit a high of 9989 and close the week around the degrees of 9980.

NIFTY TREND ANALYSIS – What NIFTY Done ?

As NIFTY made a double top at 10150 level and a sharp double bottom at 9677.
Now, this couple of double tops and bottoms make a serious range from 9990 to 10150.
Which is 460 points in range, from top to bottom.
There is precise possibility that NIFTY may trade within this range for even a month also. But,the main question.What will be the overall short term trend for NIFTY.

ANALYSIS & RECCOMENDATION.

As we know well NIFTY shooted very sharply after breaking 8990 levels from down till it reaches 10150 and makes a sharp double top there.
Will NIFTY cross 10150 levels and head towards 15000 levels or will again come back to around 8900-9000 levels.
The answer is , yes, it will come back around 8900-9000 levels, while the whole country is predicting the positive movement in nifty we recommend a sharp sell in it as its exhaustion level after making sharp double tops.
Now the question arise, why?
Why it will come down to 8900-9000 levels ?
NIFTY TREND ANALYSIS shows 3 gaps which NIFTY missed to fill while its was on its way to 10150 levels after breaking up 8290 levels.
  • GAP-1 : 8980 – 9020
  • GAP-2 : 9215 – 9248
  • GAP-3 : 9525 – 9550
Every gap will be filled always but the condition should force the market to fill the gap .According to the GAP filling theory.
After a long rally , NIFTY ended up with a double top and also there are gaps yet to be filled.
So it have the opportunity to fill its left away gaps during the rally.
As soon as NIFTY cross below 9677 levels it will show a rally towards 8900-9000 levels very soon.https://www.kblautosignals.com/nifty-trend-analysis-october-2017/
REFER TO CHART ILLUSTRATION BELOW
Nifty Trend Analysis

Recommendation :
SELL : NIFTY AROUND 10050-10100 LEVELS
TARGET – 1 : 9750 (Sell more below 9677)    &    TARGET – 2 : 9266    &    TARGET – 3 : 8900
SL ABOVE : 10200 (Daily Candle Close Basis)
For more help call us directly @ 7985959585


Nifty Trend Analysis Prominent words

The following words and word combinations occur the most in the content.
  1. resistance for the index lies
  2. nifty trend analysis
  3. 8900-9000 levels
  4. resistance for the index
  5. sharp double
  6. nifty trend analysis
  7. resistance for the index lies
  8. resistance for the index
  9. nifty trend
  10. trend analysis

Share this

Related Posts

Previous
Next Post »