Weekly Review

JAY SWAMINARAYAN

Dear Friend our sir Mr. Girish Amin is back from USA recently and now once again we start our weekly review regular for you. We received lots of email & phone calls from you in last 5 months. All of you asked about Mr. Girish Amin and his review on market. Now it is our turn to say thanks to all of you for your trust & interest in us.

Last week Nifty opened negative and traded expected. In first half Nifty registered high of 6786.25 then declined sharp and registered low of 6656.80. Nifty closed in red every day of the week and  lost 87 points ( - 1.30 %).

                                                     

                                                              For This Week

We expect, Nifty will be traded with negative bias below 6740 and it would be decline towards 6650 – 6560. Other hand above 6740 Nifty will be traded with positive bias and it would be tries to touch 6830 – 6920.  Nifty have 1^st Sup. at 6650 – 6610 & 2^nd Sup. at 6560 – 6520 and Nifty find 1^st Res. at 6740 – 6790 & 2^nd Res. At 6830 – 6880.

Strategy:

[1]  Open short below 6700 with stop loss 6790 for targets 6650 – 6610 – 6560 - 6520. 

            

                                     

[2]  Open long above 6700 with stop loss 6610 for targets  6740 – 6790 – 6830 – 6880.

NIFTY :: OP = 6778.55 , HI = 6786.25 , LO = 6656.80 , CL = 6694.80.