Nifty and Bank Nifty medium Term Analysis 17th March 2016
Both Nifty and banknifty are tring to recover from downtrend which started in Aug 2015.Both indices made one feeble atempt to go again in bullish area in october 2015.But after that both gave up much of gains and resumed downttrend.
A trend is assumed to be active unless the indices prove otherwise.March 2016 has presented one opportunity for Nifty and bank Nifty to in uptrend.
Nifty is in uptrend if it manages to close and stays above 7684. Below 7371 downtrend will be in full force.
between 7371-7684 nifty is trend less and not to be traded.
For Bank Nifty trigger level for uptrend is 16130 and below 14967 it will slip into severe downtrend.
1000 point range between 14967-16130 is trend less and medium trades should be taken only if the range breaches.
When the break will occur is not clear but today both the indices have started on bullish note.Nifty need to cover 100 more points.While bank Nifty has 400 points to conquer.
Break down trend wont be easy but its our best chance in 6 months.
happy investing
Both Nifty and banknifty are tring to recover from downtrend which started in Aug 2015.Both indices made one feeble atempt to go again in bullish area in october 2015.But after that both gave up much of gains and resumed downttrend.
A trend is assumed to be active unless the indices prove otherwise.March 2016 has presented one opportunity for Nifty and bank Nifty to in uptrend.
Nifty is in uptrend if it manages to close and stays above 7684. Below 7371 downtrend will be in full force.
between 7371-7684 nifty is trend less and not to be traded.
For Bank Nifty trigger level for uptrend is 16130 and below 14967 it will slip into severe downtrend.
1000 point range between 14967-16130 is trend less and medium trades should be taken only if the range breaches.
When the break will occur is not clear but today both the indices have started on bullish note.Nifty need to cover 100 more points.While bank Nifty has 400 points to conquer.
Break down trend wont be easy but its our best chance in 6 months.
happy investing
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