WEEKLY REVIEW

JAY SWAMINARAYAN

We said  “  We expect above 5030 Nifty will be traded with positive bias and try to touch 5210 – 5300 levels once again. Now Nifty should be traded in range 4850 – 5480 and  try to stable between 5030 – 5210 levels in this week. Nifty will be give Monthly close between 5000 – 5100. Nifty find 1^st Sup at 5030 – 4940 & 2^nd Sup at 4850 – 4760  “    Nifty traded Expected  and held 5030 till Wednesday but on Thursday Nifty gone below 5030 and made new low of  4796.10 between our 2^nd sup 4850 – 4760.

We expect in this week above 4760 Nifty will be traded with positive bias. Remember last week we said “Nifty will be give Monthly close between 5000 – 5100  “  This statement is not about month expiry. We continue with this statement. Nifty find 1^st Sup at 4850 – 4760 & 2^nd at 4720 – 4670 and Nifty find 1^st res at 4940 – 5030 & 2^nd at 5080 – 5120. This is F & O expiry week so volatility is expected. So trade carefully with strict stop loss.

Strategy :  .  Open your long near 4800 – 4850 with strict sl 4720 for tgt 4940 – 5030. Once nifty sustain 5030 then we may see some more upside in next week.

NIFTY  :   OP = 4859.30 , HI = 4893.60 , LO = 4796.10 , CL = 4845.65.