WEEKLY REVIEW

JAY SWAMINARAYAN

We said last week   “   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.   “   We suggested Strategy:   [1]  Open short below 8540 with stop loss 8630 for targets 8500 – 8450 – 8410 - 8360.   [2]  Open long above 8540 with stop loss 8450 for targets  8570 – 8630 – 8660 – 8720.

Nifty opened positive and traded expected. In first half Nifty registered low of 8531.50 than turned up and gave smart rally above 8800. Nifty achieved our both upside targets and registered high of 8866.40 a new life time high in second half. Nifty gained massive 321 points ( +3.78 %) and closed in green. 

                              

                               For This Week

We expect, Nifty will be traded with negative bias below 8810 and it would be declines towards 8720 – 8630. Other hand above 8810 Nifty will be traded with positive bias and it would be tries to touch 8900 – 8990.  Nifty have 1^st Sup. at 8750 – 8720 & 2^nd Sup. at 8660 – 8630 and Nifty find 1^st Res. at 8860 – 8900 & 2^nd Res. At 8950 – 8990.

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

Ø  Plz keep close eye on 8900 level, in any situations if Nifty fails to cross and sustains above 8900 than it will be in big-big trouble in upcoming weeks and declines sharp towards 8450/8000.

Strategy:

[1]  Open short below 8810 with stop loss 8900 for targets 8750 – 8720 – 8660 - 8630. 

                                                 

[2]  Open long above 8810 with stop loss 8720 for targets  8860 – 8900 – 8950 – 8990.

NIFTY :: OP = 8550.05     , HI = 8866.40 , LO = 8531.50 , CL = 8835.60.

Weekly Review

JAY SWAMINARAYAN

We said last week   “   Nifty will be traded with negative bias below 8270 and it would be declines towards 8180 – 8090. Other hand above 8270 Nifty will be traded with positive bias and it would be tries to touch 8360 – 8450.   “   We suggested Strategy:   [1]  Open short below 8270 with stop loss 8360 for targets 8230 – 8180 – 8140 - 8090.   [2]  Open long above 8270 with stop loss 8180 for targets  8320 – 8360 – 8410 – 8450.

Nifty opened positive and traded expected. In first half Nifty registered low of 8236.65 than turned up towards out buying level and gave smart rally above 8500 after RBI declared 0.25 points cut in Repo rate. Nifty registered high of 8530.75 and achieved our both upside targets in second half. Nifty gained massive 229 points ( + 2.77 %) 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 1^st Sup. at 8500 – 8450 & 2^nd Sup. at 8410 – 8360 and Nifty find 1^st Res. at 8570 – 8630 & 2^nd Res. At 8660 – 8720.

Strategy:

[1]  Open short below 8540 with stop loss 8630 for targets 8500 – 8450 – 8410 - 8360. 

                                                 

[2]  Open long above 8540 with stop loss 8450 for targets  8570 – 8630 – 8660 – 8720.

NIFTY :: OP = 8291.35     , HI = 8530.75 , LO = 8236.65 , CL = 8513.80.

Weekly Review

JAY SWAMINARAYAN

We said last week   “   Nifty will be traded with negative bias below 8360 and it would be declines towards 8270 – 8180. Other hand above 8360 Nifty will be traded with positive bias and it would be tries to touch 8450 – 8540.   “   We suggested Strategy:   [1]  Open short below 8360 with stop loss 8450 for targets 8320 – 8270 – 8230 - 8180.   [2]  Open long above 8360 with stop loss 8270 for targets  8410 – 8450 – 8500 – 8540.

Nifty opened positive and traded expected. In first half Nifty registered high of 8445.60 than turned back towards out shorting level and declined sharp below 8100. Nifty registered low of 8065.45 and achieved our both down side targets. Nifty took support near 8090 and tried to recover some loss in second half. Nifty lost massive 110 points ( - 1.32 %) and closed in red. 

                              

                                 For This Week

We expect same, Nifty will be traded with negative bias below 8270 and it would be declines towards 8180 – 8090. Other hand above 8270 Nifty will be traded with positive bias and it would be tries to touch 8360 – 8450.  Nifty have 1^st Sup. at 8230 – 8180 & 2^nd Sup. at 8140 – 8090 and Nifty find 1^st Res. at 8320 – 8360 & 2^nd Res. At 8410 – 8450.

Strategy:

[1]  Open short below 8270 with stop loss 8360 for targets 8230 – 8180 – 8140 - 8090. 

                                                 

[2]  Open long above 8270 with stop loss 8180 for targets  8320 – 8360 – 8410 – 8450.

NIFTY :: OP = 8407.95     , HI = 8445.60 , LO = 8065.45 , CL = 8284.50.

Weekly Review

JAY SWAMINARAYAN

We said last week   “   Nifty will be traded with negative bias below 8180 and it would be declines towards 8090 – 8000. Other hand above 8180 Nifty will be traded with positive bias and it would be tries to touch 8270 – 8360.   “   We suggested Strategy:   [1]  Open short below 8180 with stop loss 8270 for targets 8120 – 8090 – 8030 - 8000.   [2]  Open long above 8180 with stop loss 8090 for targets  8230 – 8270 – 8320 – 8360.

Nifty opened positive and traded expected. In first half Nifty registered low of 8214.70 than turned up and gave smart rally towards 8400. Nifty traded with strength & closed all the days of the week in green and registered high of 8410.60 in second half. Nifty gained massive 194 points ( + 2.37 %) and closed in green. 

                              

                                                              For This Week

We expect same, Nifty will be traded with negative bias below 8360 and it would be declines towards 8270 – 8180. Other hand above 8360 Nifty will be traded with positive bias and it would be tries to touch 8450 – 8540.  Nifty have 1^st Sup. at 8320 – 8270 & 2^nd Sup. at 8230 – 8180 and Nifty find 1^st Res. at 8410 – 8450 & 2^nd Res. At 8500 – 8540.

Strategy:

[1]  Open short below 8360 with stop loss 8450 for targets 8320 – 8270 – 8230 - 8180. 

                                                 

[2]  Open long above 8360 with stop loss 8270 for targets  8410 – 8450 – 8500 – 8540.

NIFTY :: OP = 8214.70     , HI = 8410.60 , LO = 8214.70 , CL = 8395.45.