WEEKLY REVIEW

JAY SWAMINARAYAN

We said  “  Now below 4940 Nifty will be traded with negative bias and once again heading towards 4850 – 4760.  We suggested    Strategy:     Open your short below 4940 with sl 5030 for tgt 4850 – 4800. If Nifty sustains below 4800 then continue short with sl 4850 for tgt 4760 -4670.   [ We give 60 % to this Probability ]  “

Nifty traded expected after opened gape down.  Nifty achieved our 3rd down side target and registered low at 4729. Anyhow Nifty was succeeding to turn back at last day of the week due to international market rally. Nifty lost 55 points ( - 1.12 % ) and closed in red.

                                        For This Week           

       

We expect now below 4850 Nifty will be traded with negative bias and once again heading towards 4800 – 4760. .  Open short aggressively if Nifty sustains below 4800. Above 4940 Nifty should be tries to test 5030 but between 4940 – 5030 Nifty face strong resistances. This week Nifty should find 1^st Sup between 4850 – 4800 & 2^nd   Sup between 4760 – 4670 and find 1^st Res between 4940 – 4990 & 2^nd Res between 5030 – 5080.

Strategy :

[1] Open your short below 4850 with sl 4940 for tgt 4800 – 4760. If Nifty sustains below 4800 then continue short with sl 4850 for tgt 4760 -4670..  [ We give 60 % to this Probability ]

[2] Open your long above 4940 with sl 4850 for tgt 4990 – 5030.   Open short if Nifty comes near 5030 – 5080 with strict stop loss of 5120 for tgt 4940 – 4850. [ We give 40 % to this Probability ]

NIFTY :: OP = 4874.40 , HI = 4922.60 , LO = 4728.30 , CL = 4888.05.