THE INDICATORS IN THE DAILY CHARTS LOOK OVERSOLD AND POSSIBILITY OF A GOOD BOUNCE MAY BE THERE AFTER THE DOW OPERATOR INDUCED GAP DOWN ON MONDAY. WITH THE DAILY STOCHASTIC LOOKING OVERSOLD, SO ALSO THE SAME OSCILLATOR IN THE INTRADAY 30 MINUTE CHART, AN INITIAL DOW INDUCED SLIDE TOWARDS 5640 TO 5630 WILL ATTRACT HEAVY BUYING FOR GOOD INTRADAY GAINS. NIFTY FUTURES WHICH HAD CLOSED AT 5684 ON FRIDAY, MOST LIKELY WILL OPEN GAP DOWN INDUCED BY THE FRIDAY 19TH OCTOBER 200 POINT ORCHESTRATED FALL IN DOW. NIFTY FUTURE WILL OPEN GAP DOWN BELOW OR AROUND THE CRITICAL FUTURE LEVEL OF 5660 & HAS INITIAL INTRADAY SUPPORT AROUND 5644 FOLLOWED BY 5633 THAT MUST SEE A GOOD RETRACEMENT BOUNCE FROM HERE. HOWEVER SUSTAINING BELOW 5630 TO 5625 MAY SEE NIFTY FUTURES FALLING FURTHER TO THREATEN THE 5600 LEVELS.
SIMILARLY ON THE HIGHER SIDE IN CASE OF A GOOD PULL BACK BOUNCE AFTER THE DOW INDUCED GAP DOWN, IN CASE NIFTY FUTURES CAN MOVE UP AGAIN TO BREACH AND SUSTAIN ABOVE THE CRITICAL FUTURE ZONE OF 5700 TO 5706, THEN ONE WILL OBSERVE MASSIVE SHORT COVERING TO PROPEL NIFTY FUTURES TOWARDS 5715 TO 5720 SUSTAINING ABOVE WHICH WILL BRING THE SECOND BOUT OF SHORT COVERING TO SEE NIFTY FUTURES MOVING UP TOWARDS 5735 TO THREATEN THE CRITICAL 5750 FUTURE LEVELS. LONG TO MEDIUM TERM INVESTORS MUST MAKE FULL USE OF THE EXTERNAL OPERATORS’ MANIPULATED FALL IN NIFTY TO BUY GOOD & FUNDAMENTALLY STRONG STOCKS FOR GREAT GAINS AFTER THE RESUMPTION OF THE MEGA BULL RUN TOWARDS NEW LIFE TIME HIGHS.
No comments:
Post a Comment