Review of Nifty Corrections in 2014

Nifty has been correcting after hitting all time high of 8627 and started its downward journey. Lets review the previous correction in 2014 to get an idea how much deep this correction can run.

 

Nifty time

As per above analysis we are approaching short term bottom soon if previous price time cycle has to repeat itself.

Correction

13 thoughts on “Review of Nifty Corrections in 2014”

  1. 8216 to 8171 is a Strong Support Zone on muliple counts. But my feeling is Nifty is headed further down. Bank Nifty is yet to crack. Once it lends a helping hand 8100 and 8000 are on the cards.

  2. Trend is your friend. My suggestion would be to take position only if get a clear trend reversal. Two conditions to satisfy to confirm trend reversal. One is close EOD Candlestick above previous day high and second is open, high, low and close is above previous day candle. Once this criteria is satisfied you can safely go long. You may loose few points but its worth it as you can ride the remaining wave. Same logic holds in case of reverse side also.

  3. Bramhesh

    Is there any possibility to hit 9K in Jan series???..Still can we expect Santa rally or no way..have seen ur post on dec startegy..only 1 dec month has given negative return while all other dec’s were positive..so can we expect a positive close above nov expiry or negative close.

  4. Dear Bramhesh,

    Can we expect a new high in nifty by dec 31st or before 15th Jan 2015..Can we expect any Rate cut and can we feel that closing session of parliament can trigger some major reforms in next week?

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