Weekly Review For Nifty & BankNifty

JAY SWAMINARAYAN

We said last week “ Nifty will be traded with negative bias below 7730 and it would be declines towards 7640 – 7550 – 7460. Other hand above 7730 Nifty will be traded with positive bias and it would be tries to touch 7820 – 7910 - 8000. “ Suggested Positional Trading Strategy :   [1]  Open short below 7730 with stop loss 7820 for targets 7690 – 7640 / 7600 – 7550 / 7510 – 7460.   [2]  Open long above 7730 with stop loss 7640 for targets  7780 – 7820 / 7870 – 7910 / 7960 – 8000.

               

Nifty opened negative and traded expected. In first half Nifty registered low of 7733.45 than turned up towards our buying level and gave rally towards 7900.  Nifty achieved our 1^st upside target and registered high of 7888.75 in second half. Nifty gained 99 points ( + 1.28 % ) and closed in green.

                                   

                            Nifty Review For This Week

We expect, Nifty will be traded with negative bias below 7820 and it would be declines towards 7730 – 7640 – 7530. Other hand above 7820 Nifty will be traded with positive bias and it would be tries to touch 7910 – 8000 - 8090.  Nifty have 1st Sup. at 7780 – 7730 & 2nd Sup. at 7690 – 7640 & 3rd Sup. at 7600 – 7550 and Nifty find 1st Res. at 7870 – 7910 & 2nd Res. at 7960 –8000 & 3rd Res. at 8050 – 8090.

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

Positional Trading Strategy:

[1]  Open short below 7870 with stop loss 7960 for targets 7820 – 7780 / 7730 – 7690 / 7640 – 7600. 

               

[2]  Open long above 7870 with stop loss 7780 for targets  7910 – 7960 / 8000 – 8050 / 8090 – 8140.

NIFTY :: OP = 7745.65 , HI = 7888.75 , LO = 7733.45 , CL = 7861.05.

                                               

Ø  Bank Nifty Review

We said last week “ Bank Nifty will be traded with negative bias below 16550 and it would be declines towards 16370 – 16190 – 16010. Other hand above 16550 Bank Nifty will be traded with positive bias and it would be tries to touch 16730 – 16910 - 17090. “ Suggested Positional Trading Strategy:   [1]  Open short below 16550 with stop loss 16730 for targets 16460 – 16370 / 16280 – 16190 / 16100 – 16010.   [2]  Open long above 16550 with stop loss 16370 for targets  16640 – 16730 / 16820 – 16910 / 17000 – 17090.

Bank Nifty opened flat and traded expected. In first half Bank Nifty registered low of 16580.65 than turned up and gave rally towards 17000. Bank Nifty achieved our 2^nd upside targets and registered high of 16946.10 in second half.  Bank Nifty gained  216 points ( + 1.31 % ) and closed in green.                                                       

                       

                           Bank Nifty Review For This Week

We expect, Bank Nifty will be traded with negative bias below 16820 and it would be declines towards 16640 – 16460 – 16280. Other hand above 16820 Bank Nifty will be traded with positive bias and it would be tries to touch 17000 – 17180 - 17360.  Bank Nifty has 1st Sup. at 16730 – 16640 & 2nd Sup. at 16550 – 16460 & 3rd Sup. at 16370 – 16280 and Bank Nifty find 1st Res. at 16910 – 17000 & 2nd Res. at 17090 – 17180 & 3rd Res. at 17270 - 17360.

Positional Trading Strategy:

[1]  Open short below 16820 with stop loss 17000 for targets 16730 – 16640 / 16550 – 16460 / 16370 – 16280. 

[2]  Open long above 16820 with stop loss 16640 for targets  16910 – 17000 / 17090 – 17180 / 17270 – 17360.

BANK NIFTY :: OP = 16593.40 , HI = 16946.10 , LO = 16580.65 , CL = 16811.00.

Weekly Review For Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week “ Nifty will be traded with negative bias below 7640 and it would be declines towards 7550 – 7460 – 7370. Other hand above 7640 Nifty will be traded with positive bias and it would be tries to touch 7730 – 7820 - 7910. “ Suggested Positional Trading Strategy :   [1]  Open short below 7600 with stop loss 7690 for targets 7550 – 7510 / 7460 – 7420 / 7370 – 7330.  [2]  Open long above 7600 with stop loss 7510 for targets  7640 – 7690 / 7730 – 7780 / 7820 – 7870.

                               

Nifty opened negative and traded expected. In first half Nifty registered low of 7551.05 than turned up towards our buying level and gave smart rally towards 7870.  Nifty achieved our all three upside targets and registered high of 7852.90 in second half. Nifty gained massive 151 points ( + 1.51 % ) and closed in green.

                                    

                             Nifty Review For This Week

We expect, Nifty will be traded with negative bias below 7730 and it would be declines towards 7640 – 7550 – 7460. Other hand above 7730 Nifty will be traded with positive bias and it would be tries to touch 7820 – 7910 - 8000.  Nifty have 1st Sup. at 7690 – 7640 & 2nd Sup. at 7600 – 7550 & 3rd Sup. at 7510 – 7460 and Nifty find 1st Res. at 7780 – 7820 & 2nd Res. at 7870 –7910 & 3rd Res. at 7960 – 8000.

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

Positional Trading Strategy:

[1]  Open short below 7730 with stop loss 7820 for targets 7690 – 7640 / 7600 – 7550 / 7510 – 7460. 

               

[2]  Open long above 7730 with stop loss 7640 for targets  7780 – 7820 / 7870 – 7910 / 7960 – 8000.

NIFTY :: OP = 7558.20 , HI = 7852.90 , LO = 7551.05 , CL = 7761.95.

                                      

        

Ø  Bank Nifty Review

We said last week “ Bank Nifty will be traded with negative bias below 16370 and it would be declines towards 16190 – 16010 – 15830. Other hand above 16370 Bank Nifty will be traded with positive bias and it would be tries to touch 16550 – 16730 - 16910. “ Suggested Positional Trading Strategy:   [1]  Open short below 16370 with stop loss 16550 for targets 16280 – 16190 / 16100 – 16010 / 15920 – 15830.   [2]  Open long above 16370 with stop loss 16190 for targets  16460 – 16550 / 16640 – 16730 / 16820 – 16910.

Bank Nifty opened negative and traded expected. In first half Bank Nifty registered low of 16188.05 and achieved our 1^st down side target. After that Bank Nifty turned up towards our buying level and then rallied towards 16800. Bank Nifty achieved our 2^nd upside targets and registered high of 16771.80 in second half.  Bank Nifty gained massive 251 points ( + 1.54 % ) and closed in green.

                                                      

                       

                                         Bank Nifty Review For This Week

We expect, Bank Nifty will be traded with negative bias below 16550 and it would be declines towards 16370 – 16190 – 16010. Other hand above 16550 Bank Nifty will be traded with positive bias and it would be tries to touch 16730 – 16910 - 17090.  Bank Nifty has 1st Sup. at 16460 – 16370 & 2nd Sup. at 16280 – 16190 & 3rd Sup. at 16100 – 16010 and Bank Nifty find 1st Res. at 16640 – 16730 & 2nd Res. at 16820 – 16910 & 3rd Res. at 17000 - 17090.

Positional Trading Strategy:

[1]  Open short below 16550 with stop loss 16730 for targets 16460 – 16370 / 16280 – 16190 / 16100 – 16010. 

[2]  Open long above 16550 with stop loss 16370 for targets  16640 – 16730 / 16820 – 16910 / 17000 – 17090.

BANK NIFTY :: OP = 16212.40 , HI = 16771.80 , LO = 16188.05 , CL = 16594.30.

Weekly Review For Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week “ Nifty will be traded with negative bias below 7820 and it would be declines towards 7730 – 7640 – 7550. Other hand above 7820 Nifty will be traded with positive bias and it would be tries to touch 7910 – 8000 - 8090. “ Suggested Positional Trading Strategy :   [1]  Open short below 7780 with stop loss 7870 for targets 7730 – 7690 / 7640 – 7600 / 7550 – 7510.   [2]  Open long above 7780 with stop loss 7690 for targets  7820 – 7870 / 7910 – 7960 / 8000 – 8050.

                               

Nifty opened positive and traded expected. In first half Nifty registered high of 7825.40 than turned back towards our shorting level and declined sharp below 7600. Nifty achieved our 2^nd down side targets and registered low of 7575.30 in second half. Nifty lost massive 171 points ( - 2.20 % ) and closed in red.

                                    

                              Nifty Review For This Week

We expect, Nifty will be traded with negative bias below 7640 and it would be declines towards 7550 – 7460 – 7370. Other hand above 7640 Nifty will be traded with positive bias and it would be tries to touch 7730 – 7820 - 7910.  Nifty have 1st Sup. at 7600 – 7550 & 2nd Sup. at 7510 – 7460 & 3rd Sup. at 7420 – 7370 and Nifty find 1st Res. at 7690 – 7730 & 2nd Res. at 7780 –7820 & 3rd Res. at 7870 – 7910.

We expect volatility to remains in the market on account of FED interest rate decision on Wednesday. So be cautious and trade carefully.

Positional Trading Strategy:

[1]  Open short below 7600 with stop loss 7690 for targets 7550 – 7510 / 7460 – 7420 / 7370 – 7330. 

               

[2]  Open long above 7600 with stop loss 7510 for targets  7640 – 7690 / 7730 – 7780 / 7820 – 7870.

NIFTY :: OP = 7816.55 , HI = 7825.40 , LO = 7575.30 , CL = 7610.45.

                                               

Ø  Bank Nifty Review

We said last week “ Bank Nifty will be traded with negative bias below 16910 and it would be declines towards 16730 – 16550 – 16370. Other hand above 16910 Bank Nifty will be traded with positive bias and it would be tries to touch 17090 – 17270 - 17450. “ Suggested Positional Trading Strategy:   [1]  Open short below 16910 with stop loss 17090 for targets 16820 – 16730 / 16640 – 16550 / 16460 – 16370.   [2]  Open long above 16910 with stop loss 16730 for targets  17000 – 17090 / 17180 – 17270 / 17360 – 17450.

Bank Nifty opened positive and traded expected. In first half Bank Nifty registered high of 17031.85 than turned back towards our shorting level and declined sharp below 16300. Bank Nifty achieved our all three down side targets and registered low of 16260.10 in second half.  Bank Nifty lost massive 554 points ( - 3.28 % ) and closed in red.

                                                      

                       

                              Bank Nifty Review For This Week

We expect, Bank Nifty will be traded with negative bias below 16370 and it would be declines towards 16190 – 16010 – 15830. Other hand above 16370 Bank Nifty will be traded with positive bias and it would be tries to touch 16550 – 16730 - 16910.  Bank Nifty has 1st Sup. at 16280 – 16190 & 2nd Sup. at 16100 – 16010 & 3rd Sup. at 15920 – 15830 and Bank Nifty find 1st Res. at 16460 – 16550 & 2nd Res. at 16640 – 16730 & 3rd Res. at 16820 - 16910.

Positional Trading Strategy:

[1]  Open short below 16370 with stop loss 16550 for targets 16280 – 16190 / 16100 – 16010 / 15920 – 15830. 

[2]  Open long above 16370 with stop loss 16190 for targets  16460 – 16550 / 16640 – 16730 / 16820 – 16910.

BANK NIFTY :: OP = 17018.00 , HI = 17031.85 , LO = 16260.10 , CL = 16342.50.

Weekly Review For Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week “ Nifty will be traded with negative bias below 7910 and it would be declines towards 7820 – 7730 – 7640. Other hand above 7910 Nifty will be traded with positive bias and it would be tries to touch 8000 – 8090 - 8180. “ Suggested Positional Trading Strategy :   [1]  Open short below 7910 with stop loss 8000 for targets 7870 – 7820 / 7780 – 7730 / 7690 – 7640.  [2]  Open long above 7910 with stop loss 7820 for targets  7960 – 8000 / 8050 – 8090 / 8140 – 8180.

                               

Nifty opened flat and traded expected. In first half Nifty registered high of 7979.30 and almost achieved our 1^st upside target. After that Nifty turned back towards our shorting level and declined sharp below 7800 and achieved our 1^st down side target and registered low of 7775.70 in second half. Nifty lost massive 160 points ( - 2.02 % ) and closed in red.

                                    

                            Nifty Review For This Week

We expect, Nifty will be traded with negative bias below 7820 and it would be declines towards 7730 – 7640 – 7550. Other hand above 7820 Nifty will be traded with positive bias and it would be tries to touch 7910 – 8000 - 8090.  Nifty have 1st Sup. at 7780 – 7730 & 2nd Sup. at 7690 – 7640 & 3rd Sup. at 7600 – 7550 and Nifty find 1st Res. at 7870 – 7910 & 2nd Res. at 7960 –8000 & 3rd Res. at 8050 – 8090.

Positional Trading Strategy:

[1]  Open short below 7780 with stop loss 7870 for targets 7730 – 7690 / 7640 – 7600 / 7550 – 7510. 

               

[2]  Open long above 7780 with stop loss 7690 for targets  7820 – 7870 / 7910 – 7960 / 8000 – 8050.

NIFTY :: OP = 7936.25 , HI = 7979.30 , LO = 7775.70 , CL = 7781.90.

                                               

Ø  Bank Nifty Review

We said last week “ Bank Nifty will be traded with negative bias below 17360 and it would be declines towards 17180 – 17000 – 16820. Other hand above 17360 Bank Nifty will be traded with positive bias and it would be tries to touch 17540 – 17720 - 17900. “ Suggested Positional Trading Strategy:   [1]  Open short below 17360 with stop loss 17540 for targets 17270 – 17180 / 17090 – 17000 / 16910 – 16820.   [2]  Open long above 17360 with stop loss 17180 for targets  17450 – 17540 / 17630 – 17720 / 17810 – 17900..

Bank Nifty opened positive and traded expected. In first half Bank Nifty registered high of 17498.35 and almost achieved our 1^st upside target. After that Bank Nifty turned back towards our shorting level than declined sharp below 17000 and achieved our 2^nd down side targets and registered low of 16880.35 in second half.  Bank Nifty lost massive 473 points ( - 2.73 % ) and closed in red.

                                                                              

                               Bank Nifty Review For This Week

We expect, Bank Nifty will be traded with negative bias below 16910 and it would be declines towards 16730 – 16550 – 16370. Other hand above 16910 Bank Nifty will be traded with positive bias and it would be tries to touch 17090 – 17270 - 17450.  Bank Nifty has 1st Sup. at 16820 – 16730 & 2nd Sup. at 16640 – 16550 & 3rd Sup. at 16460 – 16370 and Bank Nifty find 1st Res. at 17000 – 17090 & 2nd Res. at 17180 – 17270 & 3rd Res. at 17360 - 17450.

Positional Trading Strategy:

[1]  Open short below 16910 with stop loss 17090 for targets 16820 – 16730 / 16640 – 16550 / 16460 – 16370. 

[2]  Open long above 16910 with stop loss 16730 for targets  17000 – 17090 / 17180 – 17270 / 17360 – 17450.

BANK NIFTY :: OP = 17336.25 , HI = 17498.35 , LO = 16880.35 , CL = 16897.30.

Weekly Review For Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week “ Nifty will be traded with negative bias below 7820 and it would be declines towards 7730 – 7640 – 7550. Other hand above 7820 Nifty will be traded with positive bias and it would be tries to touch 7910 – 8000 - 8090. “ Suggested Positional Trading Strategy:   [1]  Open short below 7820 with stop loss 7910 for targets 7780 – 7730 / 7690 – 7640 / 7600 – 7550.   [2]  Open long above 7820 with stop loss 7730 for targets  7870 – 7910 / 7960 – 8000 / 8050 – 8090.

                                                              

Nifty opened positive and traded expected. In first half Nifty registered low of 7812.65 than turned up towards our buying level and rallied towards 7960. Nifty achieved our 1^st upside target and registered high of 7959.30 in second half. Nifty gained 86 points ( + 1.10 % ) and closed in green.

                                    

                             Nifty Review For This Week

We expect, Nifty will be traded with negative bias below 7910 and it would be declines towards 7820 – 7730 – 7640. Other hand above 7910 Nifty will be traded with positive bias and it would be tries to touch 8000 – 8090 - 8180.  Nifty have 1^st Sup. at 7870 – 7820 & 2^nd Sup. at 7780 – 7730 & 3^rd Sup. at 7690 – 7640 and Nifty find 1^st Res. at 7960 – 8000 & 2^nd Res. at 8050 –8090 & 3^rd Res. at 8140 – 8180.

We expect volatility to remains in the market on account of RBI Monetary policy review on Tuesday. So be cautious and trade carefully.

Positional Trading Strategy:

[1]  Open short below 7910 with stop loss 8000 for targets 7870 – 7820 / 7780 – 7730 / 7690 – 7640. 

                          

[2]  Open long above 7910 with stop loss 7820 for targets  7960 – 8000 / 8050 – 8090 / 8140 – 8180.

NIFTY :: OP = 7869.50 , HI = 7959.30 , LO = 7812.65 , CL = 7942.70.

                                                

Ø  Bank Nifty Review

We said last week “ Bank Nifty will be traded with negative bias below 17090 and it would be declines towards 16910 – 16730 – 16550. Other hand above 17090 Bank Nifty will be traded with positive bias and it would be tries to touch 17270 – 17450 - 17630. “ Suggested Positional Trading Strategy:   [1]  Open short below 17090 with stop loss 17270 for targets 17000 – 16910 / 16820 – 16730 / 16640 – 16550.   [2]  Open long above 17090 with stop loss 16910 for targets  17180 – 17270 / 17360 – 17450 / 17540 – 17630.

Bank Nifty opened positive and traded expected. In first half Bank Nifty registered low of 16964.90 than turned up towards our buying level and gave smart rally towards 17400. Bank Nifty achieved our 1^st upside target and registered high of 17403.65 in second half.  Bank Nifty gained massive 315 points ( + 1.85 % ) and closed in green.

                                    

                                         

                             Bank Nifty Review For This Week

We expect, Bank Nifty will be traded with negative bias below 17360 and it would be declines towards 17180 – 17000 – 16820. Other hand above 17360 Bank Nifty will be traded with positive bias and it would be tries to touch 17540 – 17720 - 17900.  Bank Nifty has 1^st Sup. at 17270 – 17180 & 2^nd Sup. at 17090 – 17000 & 3^rd Sup. at 16910 – 16820 and Bank Nifty find 1^st Res. at 17450 – 17540 & 2^nd Res. at 17630 – 17720 & 3^rd Res. at 17810 - 17900.

Positional Trading Strategy:

[1]  Open short below 17360 with stop loss 17540 for targets 17270 – 17180 / 17090 – 17000 / 16910 – 16820. 

[2]  Open long above 17360 with stop loss 17180 for targets  17450 – 17540 / 17630 – 17720 / 17810 – 17900.

BANK NIFTY :: OP = 17120.25 , HI = 17403.65 , LO = 16964.90 , CL = 17370.95.

Weekly Review For Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week “Nifty will be traded with negative bias below 7730 and it would be declines towards 7640 – 7550 – 7460. Other hand above 7730 Nifty will be traded with positive bias and it would be tries to touch 7820 – 7910 - 8000. “ Suggested Positional Trading Strategy:   [1]  Open short below 7730 with stop loss 7820 for targets 7690 – 7640 / 7600 – 7550 / 7510 – 7460.   [2]  Open long above 7730 with stop loss 7640 for targets  7780 – 7820 / 7870 – 7910 / 7960 – 8000.

                                                              

Nifty opened negative and traded expected. In first half Nifty registered low of 7914.15 than turned up towards our buying level and achieved our 1^st upside target. After that Nifty declined sharp towards 7730 than once again turned up and achieved our 2^nd upside targets and registered high of 7906.95 in second half. Nifty gained 94 points ( + 1.21 % ) and closed in green.

                                    

                             Nifty Review For This Week

We expect, Nifty will be traded with negative bias below 7820 and it would be declines towards 7730 – 7640 – 7550. Other hand above 7820 Nifty will be traded with positive bias and it would be tries to touch 7910 – 8000 - 8090.  Nifty have 1^st Sup. at 7780 – 7730 & 2^nd Sup. at 7690 – 7640 & 3^rd Sup. at 7600 – 7550 and Nifty find 1^st Res. at 7870 – 7910 & 2^nd Res. at 7960 –8000 & 3^rd Res. at 8050 – 8090.

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

Positional Trading Strategy:

[1]  Open short below 7820 with stop loss 7910 for targets 7780 – 7730 / 7690 – 7640 / 7600 – 7550. 

                          

[2]  Open long above 7820 with stop loss 7730 for targets  7870 – 7910 / 7960 – 8000 / 8050 – 8090.

NIFTY :: OP = 7732.95 , HI = 7906.95 , LO = 7714.15 , CL = 7856.55.

                                                

Ø  Bank Nifty Review

We said last week “ Bank Nifty will be traded with negative bias below 16910 and it would be declines towards 16730 – 16550 – 16370. Other hand above 16910 Bank Nifty will be traded with positive bias and it would be tries to touch 17090 – 17270 - 17450. “ Suggested Positional Trading Strategy:   [1]  Open short below 16910 with stop loss 17090 for targets 16820 – 16730 / 16640 – 16550 / 16460 – 16370.   [2]  Open long above 16910 with stop loss 16730 for targets  17000 – 17090 / 17180 – 17270 / 17360 – 17450.

Bank Nifty opened negative and traded expected. In first half Bank Nifty registered high of 17302.55 and achieved our 2^nd upside targets than declined sharp below 17000 and registered low of 16787.55. After that Bank Nifty turned up towards our buying level and gave smart rally towards 17270 and once again achieved our 2^nd upside targets in second half.  Bank Nifty gained 122 points ( + 0.72 % ) and closed in green.

                                    

                                         

                            Bank Nifty Review For This Week

We expect, Bank Nifty will be traded with negative bias below 17090 and it would be declines towards 16910 – 16730 – 16550. Other hand above 17090 Bank Nifty will be traded with positive bias and it would be tries to touch 17270 – 17450 - 17630.  Bank Nifty has 1^st Sup. at 17000 – 16910 & 2^nd Sup. at 16820 – 16730 & 3^rd Sup. at 16640 – 16550 and Bank Nifty find 1^st Res. at 17180 – 17270 & 2^nd Res. at 17360 – 17450 & 3^rd Res. at 17540 - 17630.

Positional Trading Strategy:

[1]  Open short below 17090 with stop loss 17270 for targets 17000 – 16910 / 16820 – 16730 / 16640 – 16550. 

[2]  Open long above 17090 with stop loss 16910 for targets  17180 – 17270 / 17360 – 17450 / 17540 – 17630.

BANK NIFTY :: OP = 16881.65 , HI = 17032.55 , LO = 16787.55 , CL = 17055.60.

Weekly Review For Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week “ Nifty will be traded with negative bias below 8000 and it would be declines towards 7910 – 7820 – 7730. Other hand above 8000 Nifty will be traded with positive bias and it would be tries to touch 8090 – 8180 - 8270. “ Suggested Positional Trading Strategy:   [1]  Open short below 7960 with stop loss 8050 for targets 7910 – 7870 / 7820 – 7780 / 7730 – 7690.   [2]  Open long above 7960 with stop loss 7870 for targets  8000 – 8050 / 8090 – 8140 / 8180 – 8230.

                                                              

Nifty opened negative and traded expected. In first half Nifty recovered smartly from lower level and registered high of 7937.75 and turned up towards our shorting level. After that Nifty declined sharp towards 7730 and achieves our 2^nd down side targets and registered low of 7730.90 in second half. Nifty lost massive 192 points ( - 2.41 % ) and closed in red.

                                    

                              Nifty Review For This Week

We expect, Nifty will be traded with negative bias below 7730 and it would be declines towards 7640 – 7550 – 7460. Other hand above 7730 Nifty will be traded with positive bias and it would be tries to touch 7820 – 7910 - 8000.  Nifty have 1^st Sup. at 7690 – 7640 & 2^nd Sup. at 7600 – 7550 & 3^rd Sup. at 7510 – 7460 and Nifty find 1^st Res. at 7780 – 7820 & 2^nd Res. at 7870 –7910 & 3^rd Res. at 7960 – 8000.

Positional Trading Strategy:

[1]  Open short below 7730 with stop loss 7820 for targets 7690 – 7640 / 7600 – 7550 / 7510 – 7460. 

                          

[2]  Open long above 7730 with stop loss 7640 for targets  7780 – 7820 / 7870 – 7910 / 7960 – 8000.

NIFTY :: OP = 7788.25 , HI = 7937.75 , LO = 7730.90 , CL = 7762.25.

                                                

Ø  Bank Nifty Review

We said last week “Bank Nifty will be traded with negative bias below 17090 and it would be declines towards 16910 – 16730 – 16550. Other hand above 17090 Bank Nifty will be traded with positive bias and it would be tries to touch 17270 – 17450 - 17630. “ Suggested Positional Trading Strategy:   [1]  Open short below 17090 with stop loss 17270 for targets 17000 – 16910 / 16820 – 16730 / 16640 – 16550.   [2]  Open long above 17090 with stop loss 16910 for targets  17180 – 17270 / 17360 – 17450 / 17540 – 17630.

Bank Nifty opened negative and traded expected. In first half Bank Nifty registered low of 16587.25 and achieved our all three down side targets than Bank Nifty recovered smartly and registered high of 17069.00 and turned up towards our shorting level. After that once again Bank Nifty declined sharp towards 16730 and achieved our 2^nd down side targets in second half.  Bank Nifty lost 153 points ( - 0.90 % ) and closed in red.

                                    

                                         

                              Bank Nifty Review For This Week

We expect, Bank Nifty will be traded with negative bias below 16910 and it would be declines towards 16730 – 16550 – 16370. Other hand above 17090 Bank Nifty will be traded with positive bias and it would be tries to touch 17090 – 17270 - 17450.  Bank Nifty has 1^st Sup. at 16820 – 16730 & 2^nd Sup. at 16640 – 16550 & 3^rd Sup. at 16460 – 16370 and Bank Nifty find 1^st Res. at 17000 – 17090 & 2^nd Res. at 17180 – 17270 & 3^rd Res. at 17360 - 17450.

Positional Trading Strategy:

[1]  Open short below 16910 with stop loss 17090 for targets 16820 – 16730 / 16640 – 16550 / 16460 – 16370. 

[2]  Open long above 16910 with stop loss 16730 for targets  17000 – 17090 / 17180 – 17270 / 17360 – 17450.

BANK NIFTY :: OP = 16667.90 , HI = 17069.00 , LO = 16587.25 , CL = 16932.85.