WEEKLY REVIEW

JAY SWAMINARAYAN

We expect Nifty will be traded with negative bias below 5840 and it would be decline towards 5750 – 5660. Other hand above 5840 Nifty will be traded with positive bias and it would be tries to test 5930 – 6020.   “   We suggested Strategy:   [1]  Open short below 5870 with stop loss 5980 for targets 5840 – 5780 – 5750 - 5690.   [2]  Open long above 5870 with stop loss 5780 for targets  5890 – 5930 – 5980 – 6020.

Nifty opened positive and traded expected. In first half Nifty traded in narrow range and registered low of 5838.90 than Nifty turned up and gave smart recovery. Nifty achieved our 1^st upside target and registered high of 5949.85 in second half. Nifty gained 27 points ( + 0 . 47 % ) and closed in green.

                                     For This Week

We expect Nifty will be traded with negative bias below 5930 and it would be decline towards 5840 – 5750. Other hand above 5930 Nifty will be traded with positive bias and it would be tries to test 6020 – 6110.  Nifty have 1^st Sup. at 5870 – 5840 & 2^nd Sup. at 5780 – 5750 and Nifty find 1^st Res. at 5980 – 6020 & 2^nd Res. At 6070 – 6110.

Strategy:

[1]  Open short below 5930 with stop loss 6020 for targets 5870 – 5840 – 5780 - 5750. 

          

                

[2]  Open long above 5930 with stop loss 5840 for targets  5980 – 6020 – 6070 – 6110.

NIFTY :: OP = 5878.25 , HI = 5949.85 , LO = 5838.90 , CL = 5807.40.