Nifty Prediction for 20/01/2020
Nifty again tried to cross 12400 level but failed. It has reacted from high for 2nd day. But it is also closing above red line. Actually BankNifty is in 5 DMA and 34 DMA sell mode and has lost around 900 points. There are 7 bank shares in nifty which are not supporting nifty up move. So if these shares start going up after their correction, nifty may go up. Else this may be end of wave 3 of 5 which is above 12400 by calculation. BankNifty has posted candlestick with long upper and lower shadows with the Doji in the middle of the day's trading range, clearly reflecting the indecision of traders. So tomorrow if BankNifty goes up.then nifty will cross 12400 mark. Else it may be sidewise or start coming down.
Nitin Shripad Joshi