Stock Market Trend analysis for the week starting from 7thoct 2014

Description –As after RBI policy declaration and then a bear attack in second half. It has hit a low at 7924 which was just on dot on our mentioned support of 7925. So far, we think Nifty showed the movement as we thought. Technically, charts are still weak and I believe that it can break 7840 levels too.

 Nifty forecast for week 7th October 2014 - 10th October 2014 

HI Traders We want to tell you as the last week almost selling pressure has been seen in the market and for the next week we are also expecting the low consolidation phase. As Market  is going to open after a long holidays. It may be possible that Nifty is likely to remain in bull grip for next week. It can touch 8400 & go even go beyond this. Avoid selling at lower levels make a sell only on high levels with strict stop loss. 

7940 is again crucial. Break below 7940 should give us levels of 7890 and the test towards 7850 too. We may get levels of 7950 in initial minutes itself. We have some 7900 put form good levels which we hold overnight. On higher side 7990-8000 levels will offer stiff resistance. Cross above 8000 will give levels of 8030.  

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