Weekly Review

JAY SWAMINARAYAN

We said last week   “   Nifty will be traded with negative bias below 8090 and it would be declines towards 8000 – 7910. Other hand above 8090 Nifty will be traded with positive bias and it would be tries to touch 8180 – 8270.   “   We suggested Strategy:   [1]  Open short below 8090 with stop loss 8180 for targets 8050 – 8000 – 7960 - 7910.   [2]  Open long above 8090 with stop loss 8000 for targets  8140 – 8180 – 8230 – 8270.

Nifty opened negative and traded expected. In first half Nifty registered high of 8159.90 but faced resistance near 8180. After that Nifty turned back towards our shorting level and declines sharp towards 7850. Nifty achieved our both down side targets and registered low of 7841.80 in second half. Nifty lost 152 points ( - 1.88 %) and closed in red.

                              

                              For This Week

We expect, Nifty will be traded with negative bias below 8000 and it would be declines towards 7910 – 7820. Other hand above 8000 Nifty will be traded with positive bias and it would be tries to touch 8090 – 8180.  Nifty have 1^st Sup. at 7960 – 7910 & 2^nd Sup. at 7870 – 7820 and Nifty find 1^st Res. at 8030 – 8090 & 2^nd Res. At 8120 – 8180.

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

Strategy:

[1]  Open short below 7960 with stop loss 8050 for targets 7910 – 7870 – 7820 - 7780. 

            

                                     

[2]  Open long above 7960 with stop loss 7870 for targets  8000 – 8030 – 8090 – 8120.

NIFTY :: OP = 8084.45 , HI = 8159.90 , L0 = 7841.80 , CL = 7968.85.

Weekly Review

JAY SWAMINARAYAN

We said last week   “   Nifty will be traded with negative bias below 8090 and it would be declines towards 8000 – 7910. Other hand above 8090 Nifty will be traded with positive bias and it would be tries to touch 8180 – 8270.   “   We suggested Strategy:   [1]  Open short below 8090 with stop loss 8180 for targets 8050 – 8000 – 7960 - 7910.   [2]  Open long above 8090 with stop loss 8000 for targets  8140 – 8180 – 8230 – 8270.

Nifty opened negative and traded expected. In first half Nifty declined sharp and registered low of 7925.25 and achieved our both down side targets. After that Nifty turned up towards our buying level and gave smart rally towards 8160. Nifty almost achieved our 1^st upside target and registered high of 8160.90 in second half. Nifty gained 15 points ( + 0.20 %) and closed in green.

                              

                               For This Week

We expect same, Nifty will be traded with negative bias below 8090 and it would be declines towards 8000 – 7910. Other hand above 8090 Nifty will be traded with positive bias and it would be tries to touch 8180 – 8270.  Nifty have 1^st Sup. at 8050 – 8000 & 2^nd Sup. at 7960 – 7910 and Nifty find 1^st Res. at 8140 – 8180 & 2^nd Res. At 8230 – 8270.

We expect volatility to remains in the market on account of F & O expiry in this week. Hence be cautious and trade carefully.

Strategy:

[1]  Open short below 8090 with stop loss 8180 for targets 8050 – 8000 – 7960 - 7910. 

            

                                     

[2]  Open long above 8090 with stop loss 8000 for targets  8140 – 8180 – 8230 – 8270.

NIFTY :: OP = 8070.35 , HI = 8160.90 , L0 = 7925.15 , CL = 8121.45.

Weekly Review

JAY SWAMINARAYAN

We said last week   “   Nifty will be traded with negative bias below 8090 and it would be declines towards 8000 – 7910. Other hand above 8090 Nifty will be traded with positive bias and it would be tries to touch 8180 – 8270.   “   We suggested Strategy:   [1]  Open short below 8090 with stop loss 8180 for targets 8050 – 8000 – 7960 - 7910.   [2]  Open long above 8090 with stop loss 8000 for targets  8120 – 8180 – 8210 – 8270.

Nifty opened positive and traded expected. In first half Nifty registered high of 8180.20 but not succeeded to close above it. So Nifty turned back and declined towards 8050.00 and registered low of 8057.30 in second half.  Anyhow Nifty succeeded to close above 8100 and gained 18 points ( + 0.23 %) and closed in green.

                              

                                For This Week

We expect same, Nifty will be traded with negative bias below 8090 and it would be declines towards 8000 – 7910. Other hand above 8090 Nifty will be traded with positive bias and it would be tries to touch 8180 – 8270.  Nifty have 1^st Sup. at 8050 – 8000 & 2^nd Sup. at 7960 – 7910 and Nifty find 1^st Res. at 8140 – 8180 & 2^nd Res. At 8230 – 8270.

Strategy:

[1]  Open short below 8090 with stop loss 8180 for targets 8050 – 8000 – 7960 - 7910. 

            

                                     

[2]  Open long above 8090 with stop loss 8000 for targets  8140 – 8180 – 8230 – 8270.

NIFTY :: OP = 8132.95 , HI = 8180.20 , L0 = 8057.30 , CL = 8105.50.

Weekly Review

JAY SWAMINARAYAN

We said last week   “   Nifty will be traded with negative bias below 7910 and it would be declines towards 7820 – 7730. Other hand above 7910 Nifty will be traded with positive bias and it would be tries to touch 8000 – 8090.   “   We suggested Strategy:   [1]  Open short below 7960 with stop loss 8050 for targets 7910 – 7870 – 7820 - 7780.  [2]  Open long above 7960 with stop loss 7870 for targets  8000 – 8030 – 8090 – 8120.

Nifty opened positive and traded expected. In first half Nifty registered low of 7984.00 than turned up towards 8150.00 and achieved our both upside targets. Nifty registered high of 8141.90 but not succeeded to close above 8090 in second half.  Nifty gained massive 132 points ( + 1.67 %) and closed in green.

                              

                             For This Week

We expect, Nifty will be traded with negative bias below 8090 and it would be declines towards 8000 – 7910. Other hand above 8090 Nifty will be traded with positive bias and it would be tries to touch 8180 – 8270.  Nifty have 1^st Sup. at 8050 – 8000 & 2^nd Sup. at 7960 – 7910 and Nifty find 1^st Res. at 8120 – 8180 & 2^nd Res. At 8210 – 8270.

Strategy:

[1]  Open short below 8090 with stop loss 8180 for targets 8050 – 8000 – 7960 - 7910. 

            

                                     

[2]  Open long above 8090 with stop loss 8000 for targets  8120 – 8180 – 8210 – 8270.

NIFTY :: OP = 7990.35 , HI = 8141.90 , L0 = 7984.00 , CL = 8086.85.