Weekly Review for Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week “  Nifty will be traded with negative bias below 8630 and it would be declines towards 8540 – 8450 – 8360. Other hand above 8630 Nifty will be traded with positive bias and it would be tries to touch 8720 – 8810 - 8900. “  We suggested Strategy:   [1]  Open short below 8630 with stop loss 8720 for targets 8590 – 8540 / 8500 – 8450 / 8410 – 8360.   [2]  Open long above 8630 with stop loss 8540 for targets  8680 – 8720 / 8770 – 8810 / 8860 – 8900.

Nifty opened positive and traded expected. In first half Nifty registered low of 8498.65 and achieved our 1st down side target. Nifty took support at 8500 then turned up and registered high of 8654.75 in second half but failed to sustain above 8630, so Nifty declined sharp towards 8500 again on Friday and achieved our 1st down side target once again. Nifty lost 88 points ( - 1.03 % ) and closed in red.

                                    

                                Nifty Review For This Week

We expect, Nifty will be traded with negative bias below 8540 and it would be declines towards 8450 – 8360 – 8270. Other hand above 8540 Nifty will be traded with positive bias and it would be tries to touch 8630 – 8720 - 8810.  Nifty have 1^st Sup. at 8500 – 8450 & 2^nd Sup. at 8410 – 8360  3^rd Sup. at 8320 – 8270 and Nifty find 1^st Res. at 8590 – 8630 & 2^nd Res. at 8680 – 8720 & 3^rd Res. at 8770 - 8810.

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

Strategy:

[1]  Open short below 8540 with stop loss 8630 for targets 8500 – 8450 / 8410 – 8360 / 8320 – 8270. 

                          

[2]  Open long above 8540 with stop loss 8450 for targets  8590 – 8630 / 8680 – 8720 / 8770 – 8810.

NIFTY :: OP = 8623.90, HI = 8654.75 , LO = 8498.65 , CL = 8521.55.

                                                

Ø  Bank Nifty Review

We said last week “  Bank Nifty will be traded with negative bias below 19070 and it would be declines towards 18890 – 18710 – 18530. Other hand above 19070 Bank Nifty will be traded with positive bias and it would be tries to touch 19250 – 19430 - 19610. “  We suggested Strategy:   [1]  Open short below 19070 with stop loss 19250 for targets 18980 – 18890 / 18800 – 18710 / 18620 – 18530.   [2]  Open long above 19070 with stop loss 18890 for targets  19160 – 19250 / 19340 – 19430 / 19520 – 19610.

Bank Nifty opened positive and traded expected. In first half Bank Nifty registered high of 19149.05 then declined sharp towards 18620 and achieved our 2^nd down side targets. Bank Nifty took support at 18620 then turned up towards our shorting level but failed to sustain above 19070, So Bank Nifty again declined sharp towards 18620 and achieved our 2^nd down side targets once again and registered low of 18613.55 in second half.  Bank Nifty lost massive 458 points ( - 2.40 % ) and closed in red.

                                    

                               Bank Nifty Review For This Week

We expect, Bank Nifty will be traded with negative bias below 18620 and it would be declines towards 18440 – 18260 – 18080. Other hand above 18620 Bank Nifty will be traded with positive bias and it would be tries to touch 18800 – 18980 - 19160.  Bank Nifty has 1^st Sup. at 18530 – 18440 & 2^nd Sup. at 18350 – 18260  3^rd Sup. at 18170 – 18080 and Bank Nifty find 1^st Res. at 18710 – 18800 & 2^nd Res. at 18890 – 18980 & 3^rd Res. at 19070 - 19160.

Strategy:

[1]  Open short below 18620 with stop loss 18800 for targets 18530 – 18440 / 18350 – 18260 / 18170 – 18080. 

[2]  Open long above 18620 with stop loss 18440 for targets  18710 – 18800 / 18890 – 18980 / 19070 – 19160.

BANK NIFTY :: OP = 19126.10, HI = 19149.05 , LO = 18613.55 , CL = 18635.85.

Weekly Review for Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week “  Nifty will be traded with negative bias below 8360 and it would be declines towards 8270 – 8180 – 8090. Other hand above 8360 Nifty will be traded with positive bias and it would be tries to touch 8450 – 8540 - 8630. “  We suggested Strategy:   [1]  Open short below 8360 with stop loss 8450 for targets 8320 – 8270 / 8230 – 8180 / 8140 – 8090.   [2]  Open long above 8360 with stop loss 8270 for targets  8410 – 8450 / 8500 – 8540 / 8590 – 8630.

Nifty opened positive and traded expected. In first half Nifty registered low of 8355.40 and took support near our buying level 8360. After that Nifty turned up and gave smart rally above 8600 and achieved our all three upside targets and registered high of 8642.95 in second half. Nifty gained massive 249 points ( + 2.98 % ) and closed in green.

                                     

                                 Nifty Review For This Week

We expect, Nifty will be traded with negative bias below 8630 and it would be declines towards 8540 – 8450 – 8360. Other hand above 8630 Nifty will be traded with positive bias and it would be tries to touch 8720 – 8810 - 8900.  Nifty have 1^st Sup. at 8590 – 8540 & 2^nd Sup. at 8500 – 8450  3^rd Sup. at 8410 – 8360 and Nifty find 1^st Res. at 8680 – 8720 & 2^nd Res. at 8770 – 8810 & 3^rd Res. at 8860 - 8900.

Strategy:

[1]  Open short below 8630 with stop loss 8720 for targets 8590 – 8540 / 8500 – 8450 / 8410 – 8360. 

                          

[2]  Open long above 8630 with stop loss 8540 for targets  8680 – 8720 / 8770 – 8810 / 8860 – 8900.

NIFTY :: OP = 8397.25, HI = 8642.95 , LO = 8355.40 , CL = 8609.85.

                                                

Ø  Bank Nifty Review

We said last week “  Bank Nifty will be traded with negative bias below 18710 and it would be declines towards 18530 – 18350 – 18170. Other hand above 18710 Bank Nifty will be traded with positive bias and it would be tries to touch 18890 – 19070 - 19250. “  We suggested Strategy:   [1]  Open short below 18710 with stop loss 18890 for targets 18620 – 18530 / 18440 – 18350 / 18260 – 18170.   [2]  Open long above 18710 with stop loss 18530 for targets  18800 – 18890 / 18980 – 19070 / 19160 – 19250.

Bank Nifty opened positive and traded expected. In first half Bank Nifty registered low of 19657.60 and took support near our buying level 18710. After that Bank Nifty turned up and gave smart rally above 19200 and achieved our all three upside targets and registered high of 19229.05 in second half. Bank Nifty gained massive 374 points ( + 2.00 % ) and closed in green.

                                    

                                 Bank Nifty Review For This Week

We expect, Bank Nifty will be traded with negative bias below 19070 and it would be declines towards 18890 – 18710 – 18530. Other hand above 19070 Bank Nifty will be traded with positive bias and it would be tries to touch 19250 – 19430 - 19610.  Bank Nifty has 1^st Sup. at 18980 – 18890 & 2^nd Sup. at 18800 – 18710  3^rd Sup. at 18620 – 18530 and Bank Nifty find 1^st Res. at 19160 – 19250 & 2^nd Res. at 19340 – 19430 & 3^rd Res. at 19520 - 19610.

Strategy:

[1]  Open short below 19070 with stop loss 19250 for targets 18980 – 18890 / 18800 – 18710 / 18620 – 18530. 

[2]  Open long above 19070 with stop loss 18890 for targets  19160 – 19250 / 19340 – 19430 / 19520 – 19610.

BANK NIFTY :: OP = 18753.80, HI = 19229.05 , LO = 18657.60 , CL = 19094.70.

Weekly Review for Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week “  Nifty will be traded with negative bias below 8450 and it would be declines towards 8360 – 8270 – 8180. Other hand above 8450 Nifty will be traded with positive bias and it would be tries to touch 8540 – 8630 - 8720. “  We suggested Strategy:   [1]  Open short below 8450 with stop loss 8540 for targets 8410 – 8360 / 8320 – 8270 / 8230 – 8180.   [2]  Open long above 8450 with stop loss 8360 for targets  8500 – 8540 / 8590 – 8630 / 8680 – 8720.

Nifty opened with down gape and traded expected. In first half Nifty took support near 8360 then turned up towards our buying level and registered high of 8561.35 and achieved our 1^st upside target. After that Nifty turned back towards our shorting level and declined sharp towards 8300. Nifty achieved our 1^st down side target and registered low of 8315.40 in second half. Nifty lost 124 points ( - 1.47 % ) and closed in red.

                                    

                               Nifty Review For This Week

We expect, Nifty will be traded with negative bias below 8360 and it would be declines towards 8270 – 8180 – 8090. Other hand above 8360 Nifty will be traded with positive bias and it would be tries to touch 8450 – 8540 - 8630.  Nifty have 1^st Sup. at 8320 – 8270 & 2^nd Sup. at 8230 – 8180  3^rd Sup. at 8140 – 8090 and Nifty find 1^st Res. at 8410 – 8450 & 2^nd Res. at 8500 – 8540 & 3^rd Res. at 8590 - 8630.

Strategy:

[1]  Open short below 8360 with stop loss 8450 for targets 8320 – 8270 / 8230 – 8180 / 8140 – 8090. 

           

               

[2]  Open long above 8360 with stop loss 8270 for targets  8410 – 8450 / 8500 – 8540 / 8590 – 8630.

NIFTY :: OP = 8386.15, HI = 8561.35 , LO = 8315.40 , CL = 8360.55.

                                               

                                 Bank Nifty Review For This Week

We expect, Bank Nifty will be traded with negative bias below 18710 and it would be declines towards 18530 – 18350 – 18170. Other hand above 18710 Bank Nifty will be traded with positive bias and it would be tries to touch 18890 – 19070 - 19250.  Bank Nifty have 1^st Sup. at 18620 – 18530 & 2^nd Sup. at 18440 – 18350  3^rd Sup. at 18260 – 18170 and Bank Nifty find 1^st Res. at 18800 – 18890 & 2^nd Res. at 18980 – 19070 & 3^rd Res. at 19160 - 19250.

Strategy:

[1]  Open short below 18710 with stop loss 18890 for targets 18620 – 18530 / 18440 – 18350 / 18260 – 18170. 

                          

[2]  Open long above 18710 with stop loss 18530 for targets  18800 – 18890 / 18980 – 19070 / 19160 – 19250.

BANK NIFTY :: OP = 18488.35, HI = 18980.65 , LO = 18402.85 , CL = 18719.80.

Weekly Review For Nifty

JAY SWAMINARAYAN

We said last week “  Nifty will be traded with negative bias below 8360 and it would be declines towards 8270 – 8180 – 8090. Other hand above 8360 Nifty will be traded with positive bias and it would be tries to touch 8450 – 8540 - 8630. “  We suggested Strategy:   [1]  Open short below 8360 with stop loss 8450 for targets 8320 – 8270 / 8230 – 8180 / 8140 – 8090.   [2]  Open long above 8360 with stop loss 8270 for targets  8410 – 8450 / 8500 – 8540 / 8590 – 8630.

Nifty opened with gape down and traded expected. In first half Nifty decline sharp and registered low of 8195.65. Nifty took support near 8180 then turned up towards our buying level and gave smart rally towards 8500. Nifty achieved our 1^st upside target and registered high of 8497.75 in second half. Nifty gained 103 points ( + 1.24 % ) and closed in green.

                                     

                                    For This Week

We expect, Nifty will be traded with negative bias below 8450 and it would be declines towards 8360 – 8270 – 8180. Other hand above 8450 Nifty will be traded with positive bias and it would be tries to touch 8540 – 8630 - 8720.  Nifty have 1^st Sup. at 8410 – 8360 & 2^nd Sup. at 8320 – 8270  3^rd Sup. at 8230 – 8180 and Nifty find 1^st Res. at 8500 – 8540 & 2^nd Res. at 8590 – 8630 & 3^rd Res. at 8680 - 8720.

Strategy:

[1]  Open short below 8450 with stop loss 8540 for targets 8410 – 8360 / 8320 – 8270 / 8230 – 8180. 

                          

[2]  Open long above 8450 with stop loss 8360 for targets  8500 – 8540 / 8590 – 8630 / 8680 – 8720.

NIFTY :: OP = 8247.05     , HI = 8497.75 , LO = 8195.65 , CL = 8484.90.