Hello.

I am new to this forum and to investing/trading as such. (I have never actually traded) I know very little of technical analysis (only the basics such as there existing a trend and the price mostly fluctuating between the support/resistance).

I have read one book on trading and that is "How I Made 2 Million In The Stock Market". His (Nicolas Darvas) box theory was very interesting.

Anyways, this is my prediction for the near future:



(I hope I have pasted the image properly)

In the past 19 months, Nifty has been fluctuating up and down within this band for 14 months. I believe it will continue to do so and not breakout (upwards) until there are some really good fundamental reasons. The resistance at around 5960 odd is, in my opinion, quite strong.

Any opinion for nifty for this month/year?

P.S. Another interesting thing is that the Jan-March period for the past 3 years has been quite bearish, isn't this contrary to the popular "January effect" like thing where stocks rally in the initial period of the year. Hmm

Thanks,
arcus

Well, unfortunately it appears it might breakdown to the lower side taking into account the current scenario.