Deepak's gann gyan :
Further to Nifty outlook of 5/Oct.
In the week of 6-10/Oct price action was expected to be either of these:
(a) Dip to 7790-7810 or 7840-50 by either 8-9/Oct before a smallish pull back of about 100-120 points into a high by 13/Oct. would expect next pull back to post a lower top around 7900-20 or 7940-60.
(b) dip into a low by 7/Oct to about 7850-60 , one day pull back of 60-80 points and decline into a low by 13/14 Oct with a target of either 7790-7810 or 7750-70
Price action was in line with (a) with a low being made on 8/Oct at 7815 closer to the range of 7790-7810 expected. We had a pull back into a high by 14/10 at 7928 in the range of 7900-20
Oct Pivots:
2/OctL(30/9-H), 7/Oct(H) 9/Oct(8/Oct-Low)-, 13/Oct(14/10-High), 21-22/Oct(17/10-Low), 27-28/Oct.
for next week expect swing top in Nifty by around Wed/thursday (ahead of the turn due on 27/Oct) as price volatility is high and trend being weak and corrective. Pull back like to top around 7860-80, max 7900-10. Would expect Bank Nifty to post a top and lead the next leg of decline.
would expect a low for this correction either by 7-10/Nov or 16-19/Nov with a target of about 7500-50. right now based on the current sequence of short term cycles low is due in the 16-19 time frame.