Category: Nifty Outlook
In Nifty Outlook,I express my views on the Indian Stock Markets Index i. e. Nifty Targets.Whenever I see a meaningful structure on daily or weekly technical chart of Nifty which may be of help to traders or investors,I share it with Nifty Outlook.
We know how volatile the stock markets remain.Looking at the technicals in a chart,it is never easy to predict the market moves accurately.So many factors affect the market moves apart from purely technicals.
It is always advisable to understand and manage the trading risks properly before going for a trade.Never underestimate the importance of Stop losses in trading and look to exit the markets immediately when your targets are met or you have made a reasonable return on your trade.
For the previous week, Nifty continued to face resistance in 5900-5950 band on the upside.As you can see in fig 1, the upper trend line joining previous highs made by the Nifty gives resistance levels around 5920-5930 for the coming days. Fig 1 Fig 2 If you see fig …