Nifty Weekly Technical Outlook for 13th Apr, 2015

Win over your emotions.

Many of my readers must be thinking that, it is easy to do an analysis and writing once market is over. I certainly agree with them, and may be after looking at last Thursday’s  and Friday’s price action, when Nifty almost gave a signal of breaking down and recovered from the lows. Honestly, it is very difficult to stay firm and maintain long position, if you are sitting in front of screen, even it was difficult for me. Today it is very easy for me to say that Overall tone of the market is Bullish, and Nifty was about to go higher after making a low. No I wouldn’t say this, rather I would admit that it was difficult and challenging task. From above observation, time and again I am coming across only one thought; You can make money in the market not with winning strategy, but with winning over your emotions.  NIFTY 10 APR'15 Last week Nifty ended with gains of 194.10 points at 8780.35, while Bank Nifty gave some hopes to optimistic bulls (ohh bulls are always optimistic) by closing in positive at 18800.85 levels. RBI gave no surprise to us. In the last week we have seen that large cap stocks more or less remain muted barring Reliance which attracted the attention of traders, which remained surprise package for everyone, as many long time bulls had already surrender. Technically speaking, Nifty is inching higher towards key resistance zones, and it will be read challenge for bulls to move and sustain above 8850-8900 levels, but I will also be looking for Bank Nifty which can turn out to be game changer for the market. Bank Nifty on sustaining above 18900 levels can give big lift to Nifty. Level specific – During the week, overall trend for market remain positive –Nifty upon sustaining above 8650 levels, spike towards 8600 levels can be possible, but close should be above 8650 levels. Below 8600 to 8500 trend may remain sideways and market will turn weak below 8500 levels. Stocks on radar – Asian paints, Axisbank, Marksans Pharma, Granules, Infy, Magma Fincorp, Gruh Finance, Radico Khaitan . To read our full article you need to fill in details here and our newsletter will be dispatched in your mail box by tomorrow. Click here to register, Please note if you are already registered then there no need to register again, you’ll shortly receive newsletter.

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