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Read more27 January 2020
Ever since corporate tax rate cut announcement by Government on 20th September 2019, NIFTY has been in uptrend with higher tops and higher bottoms. NIFTY Consolidated in the broader range of 11,800- 12,300 from November 2019 till off late i.e. Mid Jan 2020 and broke out above 12,300. But it could not sustain at higher levels and declined from 12,430 to 12,087 during the current week and closed around 12,250 levels.
Next week, when majority of market participants are expecting pre-budget rally, are we going to see blip before huge expected budget rally? Let’s try to analyze based on some technical parameters
Thus if both the abovementioned gaps are to be filled, then NIFTY needs to retrace back to 11,923 i.e. approx.11,900 levels
Source : www.investing.com
In Current Week (20th Jan 2020- 24th Jan 2020), NIFTY declined from 12,430 ( point A) to 12,087 ( point B) i.e. down move of 343 points . From 12,087, NIFTY retraced back to today’s i.e. 24th January 2020 high of 12,272 (point c) i.e. 185 points and closed near 12,250. Thus there is approximate retracement of 50% (185/343 =54 % to be precise) If NIFTY completes its AB=CD down move then probable D point would be 11,929 (12,272-343) which is again in the gap of 11,923-11,930
NIFTY Daily Chart dated 25th January 2020
Source: www.investing.com
Thus based on both the above technical parameters i.e. Gaps unfilled and ABCD down pattern, the projected NIFTY target in next week before the budget is approx. 11,900 levels
Happy Investing!!!
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(SEBI Registered Portfolio Manager – Registration No. INP000002965)
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Risk factors
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Sr. No. | Received from | Pending at the end of last month | Received | Resolved* | Total Pending # | Pending complaints > 3 months | Average Resolution time^ (in days) |
---|---|---|---|---|---|---|---|
1 | Directly from Investors | 0 | 0 | 0 | 0 | 0 | 0 |
2 | SEBI (SCORES) | 0 | 0 | 0 | 0 | 0 | 0 |
3 | Other Sources (if any) |
0 | 0 | 0 | 0 | 0 | 0 |
Grand Total | 0 | 0 | 0 | 0 | 0 | 0 |
Trend of Monthly Disposal of Complaints
Sr. No. | Month | Carried forward from previous month | Received | Resolved* | Pending# |
---|---|---|---|---|---|
1 | April 2022 | 0 | 0 | 0 | 0 |
2 | May 2022 | 0 | 0 | 0 | 0 |
3 | June 2022 | 0 | 0 | 0 | 0 |
4 | July 2022 | 0 | 0 | 0 | 0 |
5 | August 2022 | 0 | 0 | 0 | 0 |
6 | September 2022 | 0 | 0 | 0 | 0 |
7 | October 2022 | 0 | 0 | 0 | 0 |
8 | November 2022 | 0 | 0 | 0 | 0 |
9 | December 2022 | 0 | 0 | 0 | 0 |
8 | January 2023 | 0 | 0 | 0 | 0 |
8 | February 2023 | 0 | 0 | 0 | 0 |
Grand Total |
0 |
0 |
0 |
0 |
Trend of Annual Disposal of Complaints
Sr. No. | Year | Carried forward from previous year | Received | Resolved* | Pending# |
---|---|---|---|---|---|
1 | 2019-20 | 0 | 0 | 0 | 0 |
2 | 2020-21 | 0 | 0 | 0 | 0 |
3 | 2021-22 | 0 | 0 | 0 | 0 |
Grand Total | 0 | 0 | 0 | 0 |