Weekly Review

JAY SWAMINARAYAN

We said   “   Nifty will be traded with negative bias below 5660 and it would be decline towards 5570 – 5480. Other hand above 5660 Nifty will be traded with positive bias and it would be tries to touch 5750 – 5840.   “   We suggested Strategy:   [1]  Open short below 5660 with stop loss 5750 for targets 5620 – 5570 – 5530 - 5480.   [2]  Open long above 5660 with stop loss 5570 for targets  5720 – 5750 – 5800 – 5840.

Nifty opened flat and traded expected. In first half Nifty traded in narrow range of 70 points and registered low of 5639. In second half Nifty turned up towards 5750 and registered high of 5735 and almost achieved our 1^st upside target. Nifty gained 12 points ( + 0.21 % ) and closed in green.

                                 For This Week

We expect Nifty will be traded with negative bias below 5660 and it would be decline towards 5570 – 5480. Other hand above 5660 Nifty will be traded with positive bias and it would be tries to test 5750 – 5840.  Nifty have 1^st Sup. at 5660 – 5620 & 2^nd Sup. at 5570 – 5530 and Nifty find 1^st Res. at 5750 – 5800 & 2^nd Res. At 5840 – 5890.

Strategy:

[1]  Open short below 5660 with stop loss 5750 for targets 5620 – 5570 – 5530 - 5480. 

[2]  Open long above 5660 with stop loss 5570 for targets  5710 – 5750 – 5800 – 5840.

NIFTY :: OP = 5691.95 , HI = 5735.15 , LO = 5638.68 , CL = 5703.30.

Weekly Review

JAY SWAMINARAYAN

We said   “   Nifty will be traded with negative bias below 5570 and it would be decline towards 5480 – 5390. Other hand above 5570 Nifty will be traded with positive bias and it would be tries to touch 5660 – 5750.   “   We suggested Strategy:   [1]  Open short below 5570 with stop loss 5660 for target 5530 – 5480 – 5440 - 5390.   [2]  Open long above 5570 with stop loss 5480 for target  5600 – 5660 – 5690 – 5750.

Nifty opened with bull gape and traded expected. In first half Nifty opened strong and registered high of 5652 but faced selling pressure near 5660 thereafter Nifty turned back and registered low of 5535. On Friday Nifty turned up and gave smart rally above 5700. Nifty almost achieved our both upside targets and registered high of 5720 in second half. Nifty gained smart 113 points ( + 2.03 % ) and closed in green.

                                For This Week

We expect now, Nifty will be traded with negative bias below 5660 and it would be decline towards 5570 – 5480. Other hand above 5660 Nifty will be traded with positive bias and it would be tries to touch 5750 – 5840.  Nifty have 1^st Sup. at 5660 – 5620 & 2^nd Sup. at 5570 – 5530 and Nifty find 1^st Res. at 5720 – 5750 & 2^nd Res. At 5800 – 5840.

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 5660 with stop loss 5750 for targets 5620 – 5570 – 5530 - 5480. 

[2]  Open long above 5660 with stop loss 5570 for targets  5720 – 5750 – 5800 – 5840.

NIFTY :: OP = 5631.75 , HI = 5720 , LO = 5534.90 , CL = 5691.15.

Weekly Review

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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 it would be tries to test 5390 – 5480.   “   We suggested Strategy:   [1]  Open short below 5350 with stop loss 5440 for target 5300 – 5260 – 5210 - 5170.   [2]  Open long above 5350 with stop loss 5260 for target  5390 – 5440 – 5480 – 5530.

Nifty opened positive and traded expected. In first half Nifty registered low of 5333 than turned up and gave smart rally towards 5570 due to the Quantitaive easing 3 announced by American Fed Bank on Thursday. Nifty achieved our both upside targets and registered high of 5586 in second half. Nifty gained massive 218 points ( + 4.09 % ) and closed in green.

                          For This Week

We expect now, Nifty will be traded with negative bias below 5570 and it would be decline towards 5480 – 5390. Other hand above 5570 Nifty will be traded with positive bias and it would be tries to touch 5660 – 5750.  Nifty have 1^st Sup. at 5530 – 5480 & 2^nd Sup. at 5440 – 5390 and Nifty find 1^st Res. at 5600 – 5660 & 2^nd Res. At 5690 – 5750.

We expect volatility to remain in the market on account of RBI Monetary Policy on Monday and truncated week with holidays on Wednesday. So be cautious and trade carefully with strict stop loss for both side trades.

Strategy:

[1]  Open short below 5570 with stop loss 5660 for target 5530 – 5480 – 5440 - 5390. 

[2]  Open long above 5570 with stop loss 5480 for target  5600 – 5660 – 5690 – 5750.

NIFTY :: OP = 5361.90 , HI = 5586.65 , LO = 5332.10 , CL = 5577.65. 

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 it would be tries to test 5390 – 5480.   “   We suggested    Strategy:   [1]  Open short below 5260 with stop loss 5350 for target 5210 – 5170 – 5120 - 5080.   [2]  Open long above 5260 with stop loss 5170 for target  5300 – 5350 – 5440 – 5480.

Nifty opened positive and traded expected.  In first half Nifty faced resistance near 5300 than declined towards 5216. In second half Nifty took support near 5210 than turned up towards 5350 and achieved our 1^st upside target. Nifty registered high of 5366 and gained 100 points ( + 1.91 % ) and closed in green.

                                         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 it would be tries to test 5390 – 5480.  Nifty have 1^st Sup. at 5300 – 5260 & 2^nd Sup. at 5210 – 5170 and Nifty find 1^st Res. at 5390 – 5440 & 2^nd Res. At 5480 – 5530.

Strategy:

[1]  Open short below 5350 with stop loss 5440 for target 5300 – 5260 – 5210 - 5170. 

[2]  Open long above 5350 with stop loss 5260 for target  5390 – 5440 – 5480 – 5530.

NIFTY :: OP = 5276.50 , HI = 5366.30 , LO = 5215.70 , CL = 5358.70.

Weekly Review

JAY SWAMINARAYAN

We said   “   Nifty will be traded with negative bias below 5390 and it would be decline towards 5300 – 5210. Other hand above 5390 Nifty will be traded with positive bias and it would be tries to test 5480 – 5570.   “   We suggested    Strategy:   [1]  Open short below 5390 with stop loss 5480 for target 5350 – 5300 – 5260 - 5210.   [2]  Open long above 5390 with stop loss 5300 for target  5440 – 5480 – 5530 – 5570.

Nifty opened negative and traded expected.  Nifty declined very sharp below 5390 and achieved our both down side targets and registered low of 5239.  Nifty tried to recover some losses on F & O expiry day but failed to sustain it, so once again declined on last day of the week. Nifty lost 128 points ( - 2.38 % ) 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 it would be tries to test 5390 – 5480.  Nifty have 1^st Sup. at 5210 – 5170 & 2^nd Sup. at 5120 – 5080 and Nifty find 1^st Res. at 5300 – 5350 & 2^nd Res. At 5440 – 5480.

Strategy:

[1]  Open short below 5260 with stop loss 5350 for target 5210 – 5170 – 5120 - 5080. 

[2]  Open long above 5260 with stop loss 5170 for target  5300 – 5350 – 5440 – 5480.

NIFTY :: OP = 5387.85 , HI = 5399.15 , LO = 5238.90 , CL = 5258.50.