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Nifty to Jump About 150 Points Next Week

By Bhaveek Patel Leave a Comment

As per our analysis, we expect a strong bounce back on nifty for about 150 points next week. This jump was confirmed on Friday (29-Oct). As we saw Nifty sharply advanced after touching the 50 DMA of 5933. This shows that the markets have finally found its support at 5933 levels, So considering these levels we see limited downside from here and an upside potential towards 6116 / 6158 levels. Stop loss should be placed at 5930 level. So a jump of about 150 is likely next week.

We are looking to buy nifty future on every decline as there is huge buying interest. I would certainly not buy on higher levels, but instead look for buying at support area.

The trend in the Nifty is currently up, so looking for buying opportunities only. No selling or short positions should be opened.

The trend for Nifty next week (1-Nov): Bullish

Nifty For Next Week 1 Nov 2010

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Category: Nifty Tags: nifty/ Nifty Analysis

About Bhaveek Patel

Bhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.

Comments

  1. YOGESH KUMAR says

    SIR, I AM USING YOUR FREE SERVICE & NOW I WANT TO USE YOUR PAID SERVICE WHAT CAN I DO FOR THIS.MOBILE NO.9871991016

    Reply
    • Bhaveek Patel says

      Sir, we are not providing any paid tips. All the tips are now free here. Keep visiting for more free tips.

      Reply

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