Weekly Review

JAY SWAMINARAYAN

We said last week   “   Nifty will be traded with negative bias below 8720 and it would be declines towards 8630 – 8540. Other hand above 8720 Nifty will be traded with positive bias and it would be tries to touch 8810 – 8900.   “   We suggested Strategy:   [1]  Open short below 8680 with stop loss 8770 for targets 8630 – 8590 – 8540 - 8500.   [2]  Open long above 8680 with stop loss 8590 for targets  8720 – 8750 – 8810 – 8840.

Nifty opened negative and traded expected. In first half Nifty registered low of 8470.50 than turned up towards our buying level and gave smart rally above 8800. Nifty achieved our both upside targets and registered high of 8822.10 in second half. Nifty gained 144 points ( + 1.70 %) and closed in green.

                                 Once Again We Succeeds As Usual

Ø  We warned you in our weekly review of 25-01-2015 when Nifty closed at 8835.

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.

                                                                   

                                  Our Success

      Result :: Nifty registered high of 8996.60 on 30-01-2015 than declined sharp and register low of 8470 on 10-02-2015.  Thus Nifty lost more than 500 points in just 8 trading sessions.

      Remember when we warned you, Nifty gained more than 800 points in last 3 weeks and closed in green each n every week.

                                 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 8770 – 8720 & 2^nd Sup. at 8680 – 8630 and Nifty find 1^st Res. at 8840 – 8900 & 2^nd Res. At 8930 – 8990.

We still continue with this statement, “ 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. Other hand if Nifty succeeds to sustain above 8900 then next targets will be 9350/9800 in upcoming weeks. ”

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

Strategy:

[1]  Open short below 8810 with stop loss 8900 for targets 8770 – 8720 – 8680 - 8630. 

                                                 

[2]  Open long above 8810 with stop loss 8720 for targets  8840 – 8900 – 8930 – 8990.

NIFTY :: OP = 8584.40     , HI = 8822.10 , LO = 8470.50 , CL = 8805.50.