For the week ended 16th January 2009 the spot nifty ended at 2828.45 thereby posting a loss of 45.55 points compared to previous week close on 9th January 2009. The Satyam episode broke out during the first week of January. The market almost remained weak. Now the question is what will be the likely behavior of spot during the next week?. Let us try to address this with the help of few technical charts
Let us examine the spot nifty చార్ట్.

The spot nifty reached the lower band of bolinger on 9-1-09 and started it’s upward journey from lower band on 14-01-09. As the tenet says, the move started at one band will terminate at the other band. Taking this, the Nifty in probability will touch the 3173.00 area which is upper band value as of now.

The spot nifty touched the lower band of projection bands and started the upward journey. The r-squared which indicates strength in the trend is moving up, crossed the critical level there by indicating that the up trend is strong. The upper band value of projection band is 3045.00.

Considering all this, I am of the opinion that Nifty is very likely to move upwards in days to come and meet the above mentioned targets.
Regards
Subrahmanyam

OM NAMO BHAGAVATHE SREE RAMAKRISHNAYA

For the week ended 16th January 2009 the spot nifty ended at 2828.45 thereby posting a loss of 45.55 points compared to previous week close on 9th January 2009. The Satyam episode broke out during the first week of January. The market almost remained weak. Now the question is what will be the likely behavior of spot during the next week?. Let us try to address this with the help of few technical charts
Let us examine the spot nifty chart

The spot nifty reached the lower band of bolinger on 9-1-09 and started it’s upward journey from lower band on 14-01-09. As the tenet says, the move started at one band will terminate at the other band. Taking this, the Nifty in probability will touch the 3173.00 area which is upper band value as of now.