Nifty Outlook for Next Week :: (30.11.2015 to 04,12.2015)
BULLISH MOVEMENT TO CONTINUE
NIFTY :: 7943 (+86)
Nifty traded in a zigzag fashion and closed higher for the week with a gain of 1.15% , this being 2nd week of successive weekly gain.
20 DMA, 50DMA, 100DMA and 200 DMA are placed at about 7905, 7997, 7997 and 8143. respectively and would act as supports / resistances. Nifty is trading below most of the Moving Averages.
While Nifty continues to trade below the 200 DMA and 50 DMA too is below 200 DMA (Death Cross) suggesting that the Long term Bearish trend is in tact.
Nifty has once again crystallized its Medium term trend with Nifty having closed below 8100. Nifty would face strong resistance around 8050, above which it will have real bullishness .
Technical Levels ::
Bullish above 8010 with resistance at 8085, 8160,8225
Bearish below 7870 with Supports at 7795, 7720, 7650.
Breakout level : 8050 Breakdown level : 7800
Advice for Traders ::
Moon would be transiting from Pushyami 2 nd Pada in Cancer to Uttara 1 st Pada in Leo.
Sun transits in Anuradha 4 th Pada in Scorpio to Jyeshta 1 st Pada
Mercury transits in Jyeshta 2 nd Pada to Jyeshta 4 th Pada.in Scorpio,
Venus transits in in Chitta 3rd Pada in Libra to Chitta 3 rd Pada.
Mars transits in Hastha 2nd Pada in Virgo to ,Hastha 3 rd Pada.
Saturn transits in Anuradha constellation in Scropio sign in 4th Pada and in
Jupiter ,, transits in Leo in Uttara 1 st Pada in Sagittarius Navamsa .
Rahu and Ketu continue their transit in Virgo and Pisces respectively.