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.