Weekly Review

JAY SWAMINARAYAN

We said last week   “   Nifty will be traded with negative bias below 6200 and it would be decline towards 6110 – 6020. Other hand above 6200 Nifty will be traded with positive bias and it would be tries to touch 6290 – 6380.   “   We suggested Strategy:   [1]  Open short below 6200 with stop loss 6290 for targets 6160 – 6110 – 6070 - 6020.   [2]  Open long above 6200 with stop loss 6110 for targets  6230 – 6290 – 6320 – 6380.

Nifty opened positive and traded expected. In first half Nifty registered low of 6116.60 then tried to recover losses and turned up towards 6250. Nifty registered high of 6252.45 but not able to sustained above 6200 in second half.  Nifty lost 44 points (- 0.72 %) and closed in red.

                                                         For This Week

We expect now, Nifty will be traded with negative bias below 6200 and it would be decline towards 6110 – 6020. Other hand above 6200 Nifty will be traded with positive bias and it would be tries to touch 6290 – 6380.  Nifty have 1^st Sup. at 6160 – 6110 & 2^nd Sup. at 6070 – 6020 and Nifty find 1^st Res. at 6230 – 6290 & 2^nd Res. At 6320 – 6380.

We expect volatility to remains in the market on account of RBI Monetary policy on Tuesday & F & O expiry in this week. So be cautious and trade carefully in this week.

Strategy:

[1]  Open short below 6160 with stop loss 6250 for targets 6110 – 6070 – 6020 - 5980. 

            

                        

[2]  Open long above 6160 with stop loss 6070 for targets  6200 – 6230 – 6290 – 6320.

NIFTY :: OP = 6202.00 , HI = 6252.45 , LO = 6116.60 , CL = 6144.90.

Weekly Review

JAY SWAMINARAYAN

We said last week   “   Nifty will be traded with negative bias below 6110 and it would be decline towards 6020 – 5930. Other hand above 6110 Nifty will be traded with positive bias and it would be tries to touch 6200 – 6290.   “   We suggested Strategy:   [1]  Open short below 6110 with stop loss 6200 for targets 6050 – 6020 – 5960 - 5930.   [2]  Open long above 6110 with stop loss 6020 for targets  6160 – 6200 – 6250 – 6290.

Nifty opened flat and registered low of 6032.55 and almost achieved our 1^st down side target in first half. Nifty took support near 6020 then turned up towards our buying level and gave smart rally towards 6200 on Friday.  Nifty achieved our 1^st upside target and registered high of 6201.45 in second half.  Nifty gained massive 93 points (+ 1.53 %) and closed in green.

                                                         For This Week

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We expect now, Nifty will be traded with negative bias below 6200 and it would be decline towards 6110 – 6020. Other hand above 6200 Nifty will be traded with positive bias and it would be tries to touch 6290 – 6380.  Nifty have 1^st Sup. at 6160 – 6110 & 2^nd Sup. at 6070 – 6020 and Nifty find 1^st Res. at 6230 – 6290 & 2^nd Res. At 6320 – 6380.

Strategy:

[1]  Open short below 6200 with stop loss 6290 for targets 6160 – 6110 – 6070 - 6020. 

            

                        

[2]  Open long above 6200 with stop loss 6110 for targets  6230 – 6290 – 6320 – 6380.

NIFTY :: OP = 6093.00 , HI = 6201.45 , LO = 6032.45 , CL = 6199.35.

Weekly Review

JAY SWAMINARAYAN

We said last week   “   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 touch 6020 – 6110.   “   We suggested Strategy:   [1]  Open short below 5890 with stop loss 5980 for targets 5840 – 5800 – 5750 - 5710.   [2]  Open long above 5890 with stop loss 5800 for targets  5930 – 5960 – 6020 – 6050.

Nifty opened negative and traded expected. In first half registered low of 5825.85 then turned up towards our buying level and gave smart rally towards 6100.  Nifty achieved our both upside targets and registered high of 6107.60 in second half.  Nifty gained massive 188 points (+ 3.20 %) and closed in green.

                                                         For This Week

We expect, Nifty will be traded with negative bias below 6110 and it would be decline towards 6020 – 5930. Other hand above 6110 Nifty will be traded with positive bias and it would be tries to touch 6200 – 6290.  Nifty have 1^st Sup. at 6050 – 6020 & 2^nd Sup. at 5960 – 5930 and Nifty find 1^st Res. at 6160 – 6200 & 2^nd Res. At 6250 – 6290.

This is the small & truncated week with holiday on Wednesday. Hence we expect volatility to remain in the market, so be cautious and trade carefully.

Strategy:

[1]  Open short below 6110 with stop loss 6200 for targets 6050 – 6020 – 5960 - 5930. 

            

                        

[2]  Open long above 6110 with stop loss 6020 for targets  6160 – 6200 – 6250 – 6290.

NIFTY :: OP = 5889.05 , HI = 6107.60 , LO = 5825.85 , CL = 6096.20.

Weekly Review

JAY SWAMINARAYAN

We said last week   “   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 touch 5930 – 6020.   “   We suggested Strategy:   [1]  Open short below 5840 with stop loss 5930 for targets 5780 – 5750 – 5690 - 5660.   [2]  Open long above 5840 with stop loss 5750 for targets  5890 – 5930 – 5980 – 6020.

Nifty opened negative and traded expected. In first half registered low of 5700.95 then turned up towards our buying level and gave smart rally towards 5950.  Nifty achieved our 1^st uoside target and registered high of 5950.45 in second half.  Nifty gained 74 points (+ 1.27 %) 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 touch 6020 – 6110.  Nifty have 1^st Sup. at 5890 – 5840 & 2^nd Sup. at 5800 – 5750 and Nifty find 1^st Res. at 5930 – 5960 & 2^nd Res. At 6020 – 6050.

Strategy:

[1]  Open short below 5890 with stop loss 5980 for targets 5840 – 5800 – 5750 - 5710. 

            

                        

[2]  Open long above 5890 with stop loss 5800 for targets  5930 – 5960 – 6020 – 6050.

NIFTY :: OP = 5801.05 , HI = 5950.45 , LO = 5700.95 , CL = 5907.30