Nifty Weekly Technical Outlook for 08th June’15

Success is a journey, not a destination.  The doing is often more important than the outcome. – Arthur Ashe.

In the beginning of this month markets gave an indication of northward moves, but the hope of recovery lasted only for a day, and on Tuesday when RBI announced 25 basis point Repo rate cut, market gave up all the gains, and to some extent monsoon forecast which release just after the rate cut added further fuel in selling pressure. Nonetheless, I was expecting positive move, and my anticipation went wrong, however I was very well aware that I am taking a contra bet, as most of the factors were not in favor of bulls, but I prefer to take my stand. In the coming week some Global tensions will decide our forte, which is out of our control, in that scenario let’s see what technical charts are suggesting us and how we should position ourselves, against the odds.

nifty outlook for coming week way2profit

Nifty Daily Chart

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