WEEKLY REVIEW

JAY SWAMINARAYAN

We said  “  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 traded expected and achieved our 1^st up side tgt then nifty turn back towards  our sl 4720.

 We expect in this week nifty have strong support between 4670 – 4580. if  Nifty will come near this level than it turn up very sharp towards 4850 -4940. Nifty should be close in green this week. Nifty find 1^st sup at 4670 – 4580 & 2^nd at 4540 – 4490 and 1^st res at 4670 – 4850 & 2^nd at 4940 – 5030. remember from 2 weeks we said “  Nifty will be give monthly close between 5000 – 5100  “  this statement is not about month expiry. we continue with this statement.    

Strategy:

   

[1] Open your long if nifty come near 4670 with strict stop loss 4580 for tgt 4850 – 4940 or open your long  at current level if nifty turn up from this level with strict sl 4670 for tgt 4850 – 4940.

[2] Open your short if nifty come near 5030 in this week or next week with strict stop loss 5120 for tgt 4940 – 4850.

NIFTY :: OP = 4843.70 , HI = 4965.80 , LO = 4720 , CL = 4747.80