WEEKLY REVIEW

JAY SWAMINARAYAN

We said   “   Between 4760 – 4850 Nifty should finds strong resistance and to clear this levels Nifty  should needed more strength and momentum Other hand below 4670 Nifty will be losing Its strength and once again it would be decline towards 4580 – 4490.   “    We suggested    Strategy:    [1] Open short below 4760 with stop loss 4850 for target 4670 – 4580.   [2]  Open long above 4760 with stop loss 4670 for target 4850 – 4940.

ü  Nifty traded expected and achieved our 1^st down side target on Monday but succeed to held this level than it turned up with strength on Tuesday and achieved our 1^st upside targets and succeed to closed above it on last day of the week. Thus Nifty gained 119 points ( + 2.51 % ) and closed in green.

  

                                         For This Week

We expect now between 4760 – 4670 Nifty should find strong support and traded positive as well as it hold this levels. Other hand between 4940 – 5030 Nifty find strong resistance. Nifty should find 1^st Sup. at 4810 – 4760 & 2^nd Sup. at 4720 – 4670 and Nifty should find 1^st Res. At 4900 – 4940 & 2^nd Res. At 4990 – 5030.

 Strategy:

[1] Open short below 4850 with stop loss 4940 for target 4760 – 4670.

[2]  Open long above 4850 with stop loss 4760 for target 4940 – 5030.

NIFTY :: OP = 4747.55 , HI = 4898.85 , LO = 4695.45 , CL = 4866.