JAY SWAMINARAYAN
We said
last week “ Nifty will be traded with negative bias
below 8450 and it would be declines towards 8360 – 8270. Other hand above 8450
Nifty will be traded with positive bias and it would be tries to touch 8540 –
8630. “ We suggested Strategy: [1] Open short below 8450 with stop loss
8540 for targets 8410 – 8360 – 8320 - 8270. [2] Open long above 8450 with stop loss 8360 for
targets 8500 – 8540 – 8590 –
8630.
Nifty
opened positive and traded expected. In first half Nifty achieved our 1st
upside target but not succeeded to sustain above 8540, so Nifty turned back
towards our buying level and registered low of 8429.45. Nifty took support near
8450 and then gave smart rally above 8600 and achieved our both upsides target
and registered high of 8617.00 in second half. Nifty gained 94 points ( + 1.11 %) and closed in
green.
For
This Week
We expect,
Nifty will be traded with negative bias below 8540 and it would be declines
towards 8450 – 8360. Other hand above 8540 Nifty will be traded with positive
bias and it would be tries to touch 8630 – 8720. Nifty have 1st Sup. at 8540 – 8500
& 2nd Sup. at 8450 – 8410 and Nifty find 1st Res. at
8630 – 8660 & 2nd Res. At 8720 – 8750.
Ø Plz
keep close eye on 8450 level, in any situations if Nifty fails to cross and sustains above 8450 than it will be in
big-big trouble in upcoming weeks. “
Nifty find strong resistance near 8450 so use
this opportunity to open Short with Sl 8540 for minimum 400 – 800 points
downfall.. “
RESULT: As per our above statement
Nifty crosses and sustained above 8450 constant 5 days and only after that
Nifty able to move towards 8600.
Strategy:
[1] Open short
below 8590 with stop loss 8680 for targets 8540 – 8500 – 8450 - 8410.
[2]
Open long above 8590 with stop loss 8500 for targets 8630 – 8660 – 8720 – 8750.
NIFTY ::
OP = 8490.95 , HI = 8617.00 , LO =
8429.45 , CL = 8588.25.
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