A COMMENTARY ON NIFTY AND THE LEVELS FOR 29TH SEPTEMBER 2014. BEATdSTREET Leave a reply The moves on Friday only confirmed that there is more to the markets than the mayhems they are loosely associated with. The law of numeric harmonics play out their part to clinical perfection and flawlessly. The close doesn’t suggest that it was a dead cat bounce. The session ahead will only go to confirm what the numbers seem to saying. Nifty closed out at 7969 and that’s above the 38.2% FIB of the low at 7842. The FIB stands at 7963.50. I have always maintained that a close above or below a vital turning point sends out a signal what is in store. The close thus suggests that this turnaround from 7842 should see 8037 in the least. We have a band of thirty points between 7991 and 8021 which will prove to be a glitch going forward but once 8040 is taken out then the up move will be firmly in place. Internationally, DOW close up by 0.99% which is higher than the analysts bargained for. The general consensus was for a lower close or a top on S&P at 1980. The post close on FTSE and DAX was very positively pronounced and DOW flat in line with the session close. Going forward the band of 7992-8038-8110-8160-8180-8239-8283 are the resistances and 7963-7935-7920-7885-7838-7792-7748-7684-7630-7582-7540-7515-7471-7422 are supports. Have a wonderful trading day and the week ahead. BEATdSTREET beatdstreet@yahoo beatdstreet.wordpress/
Posted on: Sun, 28 Sep 2014 18:42:14 +0000
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