Nifty has achieved our target zone of 8300- 8400 as per the blog post on 27th May 2016. We expect profit taking the region of 8400/8500 and our view is that Nifty will find it difficult to break through this resistance in this swing. Our view is a fall to the 8100/8200 zone before the next bullish swing takes the index to the 8700/8800 zone. The progress of the monsoon is very crucial and will play a big part in the index movement. BREXIT fears seem to have been overcome completely judging by the market reaction.
|BULLISH SWING TARGETS ACHIEVED|