Weekly Review

JAY SWAMINARAYAN

We said last week   “   Nifty will be traded with negative bias below 7640 and it would be declines towards 7550 – 7460. Other hand above 7640 Nifty will be traded with positive bias and it would be tries to touch 7730 – 7820.   “   We suggested Strategy:   [[1]  Open short below 7640 with stop loss 7730 for targets 7580 – 7550 – 7490 - 7460.   [2]  Open long above 7640 with stop loss 7550 for targets  7670 – 7730 – 7760 – 7820.

Nifty opened positive and traded expected. In first half Nifty registered low of 7674.00 than gave smart rally towards 7820.00 and registered high of 7840.95. Nifty faced resistance at 7820 and not succeeded to close above 7820 in second half. Nifty gained massive 126 points ( + 1.65 %) and closed in green.

                              

                                For This Week

We expect, Nifty will be traded with negative bias below 7820 and it would be declines towards 7730 – 7640. Other hand above 7820 Nifty will be traded with positive bias and it would be tries to touch 7910 – 8000.  Nifty have 1^st Sup. at 7760 – 7730 & 2^nd Sup. at 7670 – 7640 and Nifty find 1^st Res. at 7850 – 7910 & 2^nd Res. At 7940 – 8000.

This is the small & truncated week with holiday on Tuesday and also the F & O expiry in this week so be cautious and trade carefully. Hence we expect volatility to remain in the market.

Strategy:

[1]  Open short below 7820 with stop loss 7910 for targets 7760 – 7730 – 7670 - 7640. 

            

                                     

[2]  Open long above 7820 with stop loss 7730 for targets  7850 – 7910 – 7940 – 8000.

NIFTY :: OP = 7701.65 , HI = 7840.95 , LO = 7674.00 , CL = 7790.45.

Weekly Review

JAY SWAMINARAYAN

We said last week   “   Nifty will be traded with negative bias below 7460 and it would be declines towards 7370 – 7280. Other hand above 7460 Nifty will be traded with positive bias and it would be tries to touch 7550 – 7640.   “   We suggested Strategy:   [1]  Open short below 7460 with stop loss 7550 for targets 7420 – 7370 – 7330 - 7280.   [2]  Open long above 7460 with stop loss 7370 for targets  7490 – 7550 – 7580 – 7640.

Nifty opened positive and traded expected. In first half Nifty registered low of 7422.15 and took support at 7420 than turned up towards our buying level and gave smart rally above 7640. Nifty hit our sl of 7550 and registered high of 7685 in second half. Nifty gained massive 204 points ( + 2.74 %) and closed in green.

We post our weekly review regularly from last four year and this was happen only 4^th time that Nifty hit our stop loss.

                              

                               For This Week

We expect, Nifty will be traded with negative bias below 7640 and it would be declines towards 7550 – 7460. Other hand above 7640 Nifty will be traded with positive bias and it would be tries to touch 7730 – 7820.  Nifty have 1^st Sup. at 7580 – 7550 & 2^nd Sup. at 7490 – 7460 and Nifty find 1^st Res. at 7670 – 7730 & 2^nd Res. At 7760 – 7820.

Strategy:

[1]  Open short below 7640 with stop loss 7730 for targets 7580 – 7550 – 7490 - 7460. 

            

                                     

[2]  Open long above 7640 with stop loss 7550 for targets  7670 – 7730 – 7760 – 7820.

NIFTY :: OP = 7469.00 , HI = 7685.00 , LO = 7422.15 , CL = 7663.90.

Weekly Review

JAY SWAMINARAYAN

We said last week   “   Nifty will be traded with negative bias below 7730 and it would be declines towards 7640 – 7550. Other hand above 7730 Nifty will be traded with positive bias and it would be tries to touch 7820 – 7910.   “   We suggested Strategy:   [1]  Open short below 7730 with stop loss 7820 for targets 7690 – 7640 – 7600 - 7550.   [2]  Open long above 7730 with stop loss 7640 for targets  7760 – 7820 – 7850 – 7910.

Ø  Complete mirror effect of last week.                    

Nifty opened positive and traded expected. In first half Nifty registered high of 7808.85 but faced resistance near 7820. After that Nifty turned back towards our shorting level and declined very sharp towards 7550 and achieved our both down side targets on Wednesday. On Thursday (announcement of Union Budget day) Nifty registered low at 7479.05 than turned up towards our shorting level 7730 and registered high of 7731.05 then once again Nifty declined very sharp towards 7550 and registered low of 7537.25 and achieved our both down side targets on same day. Thus Nifty achieved our both down side targets twice in the week. Nifty registered low of 7447.20 in second half and lost massive 292 points ( - 3.77 %) and closed in red.

                              

                                 For This Week

We expect, Nifty will be traded with negative bias below 7460 and it would be declines towards 7370 – 7280. Other hand above 7460 Nifty will be traded with positive bias and it would be tries to touch 7550 – 7640.  Nifty have 1^st Sup. at 7420 – 7370 & 2^nd Sup. at 7330 – 7280 and Nifty find 1^st Res. at 7490 – 7550 & 2^nd Res. At 7580 – 7640.

Strategy:

[1]  Open short below 7460 with stop loss 7550 for targets 7420 – 7370 – 7330 - 7280. 

            

                                     

[2]  Open long above 7460 with stop loss 7370 for targets  7490 – 7550 – 7580 – 7640.

NIFTY :: OP = 7780.40 , HI = 7808.85 , LO = 7447.20 , CL = 7459.60.

Weekly Review

JAY SWAMINARAYAN

We said last week   “   Nifty will be traded with negative bias below 7550 and it would be declines towards 7460 – 7370. Other hand above 7550 Nifty will be traded with positive bias and it would be tries to touch 7640 – 7730.   “   We suggested Strategy:   [1]  Open short below 7510 with stop loss 7600 for targets 7460 – 7400 – 7370 - 7310.   [2]  Open long above 7510 with stop loss 7400 for targets  7550 – 7600 – 7640 – 7690.

Nifty opened positive and traded expected. In first half Nifty registered low of 7531.60 then gave smart rally above 7730 and achieved our both upside targets. Nifty traded with strength all the week and registered high of 7758.00 in second half. Nifty gained massive 242 points ( + 3.23 %) and closed in green.                       

                               

                                 For This Week

We expect, Nifty will be traded with negative bias below 7730 and it would be declines towards 7640 – 7550. Other hand above 7730 Nifty will be traded with positive bias and it would be tries to touch 7820 – 7910.  Nifty have 1^st Sup. at 7690 – 7640 & 2^nd Sup. at 7600 – 7550 and Nifty find 1^st Res. at 7760 – 7820 & 2^nd Res. At 7850 – 7910.

We expect volatility to remain in the market on account of Union Budget in this week. Hence be cautious and trade carefully.

Strategy:

[1]  Open short below 7730 with stop loss 7820 for targets 7690 – 7640 – 7600 - 7550. 

            

                                     

[2]  Open long above 7730 with stop loss 7640 for targets  7760 – 7820 – 7850 – 7910.

NIFTY :: OP = 7534.05 , HI = 7758.00 , LO = 7531.60 , CL = 7751.60.