My views
1. Till last trading session, a rising trend line (from 27.12.16) was well maintained by NIFTY, though on 3.3.17 price breached below trend line but NIFTY closed just around trend line. Also NIFTY was moving in a rising channel till now, lets see how it moves now.
2. Secondly, for short term, till NIFTY is above 8850, there is no danger to bullish trend. And even it breaches 8850 decisively (now or after some days), then a short term fall of around 150 points may be seen and NIFTY may fall down to 8700, still above 8666, the border line for medium term bullish line.
3. Its only if NIFTY breaches below 8666 decisively, then we may see bearishness. Every thing is possible in market but probability of breaching below 8666 is quite less.
4. Moreover, as per price movement, IMO, we may see 9400 in next 6 months and 9999 within an year or so.
These are my views and I reserve my rights to be wrong
1. Till last trading session, a rising trend line (from 27.12.16) was well maintained by NIFTY, though on 3.3.17 price breached below trend line but NIFTY closed just around trend line. Also NIFTY was moving in a rising channel till now, lets see how it moves now.
2. Secondly, for short term, till NIFTY is above 8850, there is no danger to bullish trend. And even it breaches 8850 decisively (now or after some days), then a short term fall of around 150 points may be seen and NIFTY may fall down to 8700, still above 8666, the border line for medium term bullish line.
3. Its only if NIFTY breaches below 8666 decisively, then we may see bearishness. Every thing is possible in market but probability of breaching below 8666 is quite less.
4. Moreover, as per price movement, IMO, we may see 9400 in next 6 months and 9999 within an year or so.
These are my views and I reserve my rights to be wrong