Monday, March 31, 2014

Nifty Technicals forecast for 31 - March - 2014

Nifty Technicals forecast for 31 - March - 2014
On 28-March-2014, Nifty Closed at:6,695.90 (+54.15), for 31-March-2014, Its Ugadi (Happy New Year) folks, enjoy the summer sun and bull run.
then bullish possiblity, which is bang on target, given on 21- October - 2013
technical-forecast-given-21-october-2013
Now, Nifty Striking distance from 6900 on index,
Its a Bullseye, 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

Now just 150-200 points from target and a month remaining for pattern.
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