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 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 opened positive and traded expected. In first half Nifty registered low of 6079.20 and achieved our 1^st down side target then tried to recover losses and in this process Nifty turned up towards buying level and gave smart rally above 6300. Nifty registered high of 6342.95 and achieved our both upside targets in second half.  Nifty gained massive 167 points ( + 2.81 %) and closed in green.

Dear Reader,                  We as a Devsaty stocks would like to take this opportunity to wish you and your family a very Happy Diwali & prosperous New Year. May GOD fulfill all your wishes in wealth, health and happiness in your life.

    

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                                                         For This Week

We expect now, Nifty will be traded with negative bias below 6290 and it would be decline towards 6200 – 6110. Other hand above 6290 Nifty will be traded with positive bias and it would be tries to touch 6380 – 6470.  Nifty have 1^st Sup. at 6250 – 6200 & 2^nd Sup. at 6160 – 6110 and Nifty find 1^st Res. at 6340 – 6380 & 2^nd Res. At 6430 – 6470.

Strategy:

[1]  Open short below 6290 with stop loss 6380 for targets 6250 – 6200 – 6160 - 6110. 

            

                        

[2]  Open long above 6290 with stop loss 6200 for targets  6340 – 6380 – 6430 – 6470.

NIFTY :: OP = 6155.10 , HI = 6342.95 , LO = 6079.20 , CL = 6317.35.