NIFTY Weekly Outlook – Bellwether Index Continues To Be Range Bound

The weekly charts have already started showing cracks, with signs pointing at a minimum correction of 500 points, towards the 20 week moving average. If it doesn’t hold that support, we could very well witness a free fall to 14,000 levels quite quickly. The bellwether index fell by 0.59% last week, completing yet another volatile, range bound week as prices oscillated firmly within the Bollinger squeeze pattern that we are witnessing on the daily charts. In the absence of any strong positive cues, and with the faster than expected economic…

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NIFTY Weekly Outlook – Rational Analysis

The weekly charts have already started showing cracks, with signs pointing at a minimum correction of 500 points, towards the 20 week moving average. If it doesn’t hold that support, we could very well witness a free fall to 14,000 levels quite quickly. The bellwether index fell by 0.59% last week, completing yet another volatile, range bound week as prices oscillated firmly within the Bollinger squeeze pattern that we are witnessing on the daily charts. In the absence of any strong positive cues, and with the faster than expected economic…

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