Technical updates on Nifty and KPIT

Nifty weekly chart

 Nifty is trading within a narrow range from few months . Now it is likely to reach lower part of the band which is 5980 . If it breaks this level on weekly basis then it can fall by 100-200 points.

Nifty monthly chart

 

 

Nifty is forming higher highs and higher lows in monthly chart which is a bullish sign. Now it is trading at the important resistance level . If it breaks this level (which may not happen till election) then it will certainly reach 7000.

KPIT

 

 

 

Monthly chart of KPIT proves the point that price movements are not random but they follow a pattern . KPIT tested resistance at 189 and now corrected . Investors should consider exit atleast partially and re enter if it breaks Rs.200.