WEEKLY REVIEW

JAY SWAMINARAYAN

We said   “   Nifty will be traded with negative bias below 5030 and it would be decline towards 4940 – 4850. Other hand above 5030 Nifty will be traded with positive bias and it would be tries to test 5120 – 5210.   “   We suggested    Strategy:    [1]  Open short below 5030 with stop loss 5120 for target 4940 – 4850.   [2]  Open long above 5030 with stop loss 4940 for target 5120 – 5210.

Nifty traded expected after opened flat and achieved our both upside targets. Nifty gave smart up move due to cut of CRR Rates on Tuesday and increased gain end of the week. Nifty gained massive 156 points ( + 3.09 % ) and closed in green.   

                                       For This week

We expect Nifty will be traded with negative bias below 5210 and it would be tries to test 5120 – 5030, but it would find strong support between this levels. Other hand above 5210 Nifty will be traded with positive bias and it would be tries to touch 5300 - 5390.  Nifty find 1^st Sup. At 5170 – 5120 & 2^nd Sup. at 5080 – 5030 and Nifty should find 1^st Res. At  5260 – 5300 & 2^nd Res. At 5350 – 5390.

Be cautious and trade carefully because of the European leaders are meeting for Greece Debt Crisis in this week. Hence we expect volatility to remain in the market.

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 = 5025.35 , HI = 5217 , LO = 5021.35 , CL = 5204.70