WEEKLY REVIEW

JAY SWAMINARAYAN

We said   “   Nifty will be traded with negative bias below 5300 and it would be declined towards 5210 – 5120.   “   We  suggested    Strategy:    Open short below 5300 with stop loss 5390 for target 5210 – 5120.    

Nifty traded expected below 5300 and achieved almost our both down side target. Nifty took support at 5140. Nifty lost 115 points ( - 2.18 % ) and closed in red.  

                                       For This Week

We expect Nifty will be traded with negative bias below 5210 and it would be declined towards 5120 – 5030. Other hand above 5210 Nifty will be traded with positive bias and tries to test 5300 – 5390.  Nifty should find 1^st Sup. at 5170 – 5120 & 2^nd Sup. at 5080 – 5030 and Nifty should find 1^st Res. At 5210 – 5240 & 2^nd Res. At 5300 – 5330.

Strategy:

[1]  Open short below 5210 with stop loss 5300 for target 5120 – 5030.  [ We give 60 % to this Probability ]

[2]  Open long above 5210 with stop loss 5120 for target 5300 – 5390.   [ We give 40 % to this Probability ]

NIFTY :: OP = 5292.25 , HI = 5317.50 , LO = 5142.25 , LO = 5168.85