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Nifty At Crucial Zone, Where Is It Headed For??

Nifty at crucial zone, where is it headed for??

 

12100 levels is a  strong resistance for Nifty. The NDA coming to power was the trigger that the market was waiting for to cross the important zone. But contrary to the expectation that market became dull around the highs and the market produced a big bear candle on the 5th July. Market has its own discounting mechanism wherein the good and bad get discounted much before the event. With the market at important resistance before the election results the probability of the Index correcting from the zone was very high and that is exactly what we witnessed post the results. The Index has fallen 12 percent from the highs and has come down to an important support. Therefore again the important question ‘is the correction over’??Nifty has been consolidating in a big range of 500 points for the past one months now, making lows around the 10650 level which is  the Fibonacci confluence zone. The same has been circled on the charts. The initiatives from the government has given the markets  some hope. Technically with the market at good support zone,  positive news flow further increases the probability of  reversal. Nifty tested the resistance at 11150 for the third time around a few days back. If the Index can reach the zone the fourth time it will be broken this time around. Therefore in this most difficult times for trading we have come out with winners consistently. We have been able to identify reversal in several of the beaten down stocks like Maruti, Apollo tyre, and recently the reversal in the pharma space like Sun Pharma  and Biocon and kept on riding the bull run in Bata. The weak stocks far outstripped the strong ones and we were always on the toes to pounce on them whenever the opportunity showed up. Ultratech. Ibulhsg Finance,Hindpetro ,BPCL and not to miss the weakness in Yes bank and RBL bank. Traders Central is one of the premium service from the stable of DR CK Narayan where you not only earn but also learn. Here we not only give calls that consistently make money but also give a technical reasoning for the same. Dr Ck Narayan  himself gives his valuable view through out the day on the market and various stocks. Therefore this product is apt for not only traders but also for investors as we keep u updated with important turns  in stocks. The market is about to give a wonderful opportunity with several of the beaten down stocks preparing to rise ,I have named a few here but  there are many that are preparing  for a major run. Don’t miss it!!

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