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Nifty Spot weekly Analysis (6 Nov 2016)

Nifty Spot

Huge volatility is expected ahead of US Elections
Here is past 6 months chart of Nifty Spot
Chart is showning Trend Decider Levels at 8400 & 8550
Nifty spot has taken support @ 8400 on friday & Closes @ 8433.75
So if breaks 8400 and closes below this level
then next supports are at 8285, 8240 and 8150.
Nifty Spot is facing Resistance at 8550
& Once if it breaks and closes above this level
then will try to move 8615, 8675 and 8735 levels


This is MCDOWELL-N 1 year chart
See stock has broken strong support of 2118
and closes below the level
Now it considers supports at 1960,1920 and 1825
and at higher level, its facing resistances at 2120 & 2230
So if there comes higher levels then we can do shorts
for target of around 1500!!

Happy Trading !!!