Nifty can touch at the start of the new year 8250 levels - Dollar Advisory Financial Services

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Wednesday 28 December 2016

Nifty can touch at the start of the new year 8250 levels

Tuesday's session at Nifty (Nifty) closed above 8,000, and the comeback. Idelwaij Securities (Edelweiss Securities) in its daily technical report mentioned that the Nifty 50% return (retracement) level is reversed.


Since the beginning, began to rise above a flat Nifty crossed 7950 and found by the afternoon. However, it took the last two hours, and finally in the fast ended at 8033 with a gain of 125 points. The report says that Nifty Idelwaij on the daily chart has formed a strong uptake candle, the last three days the loss is covered. Trading volume was higher than average. Climb-losers ratio in favor of gainers 11: 4 am. Cut deals to hedge volatility index representing Vicks India has come down to 15%.


According to Idelwaij momentum Osiletron signs are mixed. Stokastik seems to be fast, selling crossover in the MACD remains. Although clearly a positive distraction RSI (divergence) is shown, which can be supported in the near future Nifty. Idelwaij Fibonacci level around 7900 says that 50% of the fresh market near the foothills met yesterday in the wake of the double support made good moves, causing a short-term bottom is formed.
 

 It is believed that the Nifty may move towards 8100. It is off weekly and strongly positive returns, at the beginning of the new year the Nifty can touch 8,250 again.

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