WEEKLY REVIEW

JAY SWAMINARAYAN

We said   “   Nifty will be traded with negative bias below 5300 and it would be decline towards 5210 – 5120. Other hand above 5300 Nifty will be traded with positive bias and tries to test 5390 – 5480.   “    We suggested    Strategy:   [1] Open your short below 5300 with sl 5390 for tgt 5210 – 5120.   [2] Open your long above 5300 with sl 5210 for tgt 5390 – 5480.

Nifty traded expected after opened flat. In 1^st half Nifty achieved our 1^st down side target than it tried to recover but failed to cross 5390 and it declined sharp and registered low of 5205 in 2^nd half. Nifty lost 39 points ( - 0.75 % ) and closed in red.

                                For This Week

We expect Nifty will be traded with negative bias below 5300 and it would be decline towards 5210 – 5120. Other hand above 5300 Nifty will be traded with positive bias and tries to test 5390 – 5480.  Nifty should find 1^st Sup. at 5260 – 5210 & 2^nd Sup. at 5170 – 5120 and Nifty should find 1^st Res. At 5300 – 5330 & 2^nd Res. At 5390 – 5420

Be cautious and trade carefully because of F & O expiry in this week. Hence we expect volatility to remain in the market.

Strategy:

[1]  Open short below 5300 with stop loss 5390 for target 5210 – 5120. 

[2]  Open long above 5300 with stop loss 5210 for target 5390 – 5480.

NIFTY :: OP = 5337.35 , HI = 5385.95 , LO = 5205.65 , CL = 5278.20 

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