Sep22-W2: Too difficult to go up? (Sep5 to Sep9)
Diupdate
What I said last week was that the weekly candle will have a thin body. This turned out to be completely wrong. The big green candle on 30 Aug came out of nowhere. Now the following is my analysis for coming week:
There is this big purple channel, which primarily gives impression of Nifty being in a downtrend. For the last couple of weeks, Nifty raised its head above it only to get drowned again. I think it will be difficult now for Nifty to breach the purple channel above the purple channel. Adding to the problem is the red channel.
Scenarios for the week ahead (highlighted as yellow box with red and green lines dissecting scenarios)…
Consolidation - Between 17850 and 17150
Downtrend - If breach below 17150; to drop somewhere till 16750
Uptrend - If breach above 17850; to rise somewhere till 18225
Pakistan got flooded. Sri Lanka is grappling with problems. It has been a year of Taliban rule in Afghanistan. And yet, all of them have time to play Asia Cup with India.
DISCLAIMER: I am not a SEBI registered adviser. All the information provided on this website is for educational / informational purposes only and should not be taken as investment advice.
There is this big purple channel, which primarily gives impression of Nifty being in a downtrend. For the last couple of weeks, Nifty raised its head above it only to get drowned again. I think it will be difficult now for Nifty to breach the purple channel above the purple channel. Adding to the problem is the red channel.
Scenarios for the week ahead (highlighted as yellow box with red and green lines dissecting scenarios)…
Consolidation - Between 17850 and 17150
Downtrend - If breach below 17150; to drop somewhere till 16750
Uptrend - If breach above 17850; to rise somewhere till 18225
Pakistan got flooded. Sri Lanka is grappling with problems. It has been a year of Taliban rule in Afghanistan. And yet, all of them have time to play Asia Cup with India.
DISCLAIMER: I am not a SEBI registered adviser. All the information provided on this website is for educational / informational purposes only and should not be taken as investment advice.
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