Sunday, October 20, 2013

Bullish Head and shoulders on Nifty Technical Forecast for 21 - October - 2013

Technical Forecast for 21 - October - 2013 for Nifty and Sensex

On 18-October-2013, Nifty Closed at:6,189.35 (+143.5) due to weekend factor, for 21-Oct-2013 monday, after day of high range of 156 pts, markets will be range bound in 50-75pts trade range.

head and shoulders pattern in nifty index, Nifty 2013 year chart
Bullish head and shoulders pattern in nifty index
Bullish head and shoulders pattern in nifty index, Target calculation are as follows:
6100(High..approximated) - 5300 (low)= 800points (difference)
6100(High..approximated) + 800points(difference) = Target 6900 on nifty

Estimated Time of Arrival of target (ETA):
pattern start = May(5-2013)
Pattern Close/confirmation = October (10-2013)
difference between start and confirmation= 5 months from 21-oct-2013..
ETA = March-April 2014
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