Equity Research Report 03 October 2016 Ways2Capital.pdf
PATTERN FORMATION ( NIFTY )
Detail of Chart - On the Above given daily Chart of NIFTY has applied Bollinger Band
along with Parabolic SAR both the indicators are Leading, and gives signal of Buying or
Selling. Although the Uses of Bollinger Band differ from traders to traders Some buy
when it break the Middle Band from below side and some buy when it break Upper Band.
We assume that the Breaking the Middle Band Usually a Bull side Signal as we can see
that on the Above given Chart it is trading below the middle Band which is uncertainty of
Bull if Nifty is able to cross the level of 8650 could move toward the 8780-8800 in near
term. The Crucial Levels for NIFTY is 8650-8770 is up side and 8530-8470 is down side.