Weekly Review For Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week “  Nifty will be traded with negative bias below 8270 and it would be declines towards 8180 – 8090 – 8000. Other hand above 8270 Nifty will be traded with positive bias and it would be tries to touch 8360 – 8450 - 8540. “  We suggested Strategy:   [1]  Open short below 8270 with stop loss 8360 for targets 8230 – 8180 / 8140 – 8090 / 8050 – 8000.   [2]  Open long above 8270 with stop loss 8180 for targets  8320 – 8360 / 8410 – 8450 / 8500 – 8540.

Nifty opened with huge down side gap and traded expected. In first half Nifty declined sharp below 7700 and registered low of 7667.25. After that Nifty tried to recover the loss and settled at 8000 in second half. Nifty lost massive 298 points ( - 3.59 % ) and closed in red.

NEW WEEKLY SUPPORT LEVEL AT 8000 FOR NIFTY SPOT :: [ First time in 6 year ]

Below 8000 Nifty have 1^st Sup. at 7960 – 7910 & 2^nd Sup. at 7870 – 7820  3^rdSup. at 7780 – 7730 and Nifty find 1^st Res. at 8050 – 8090 & 2^nd Res. at 8140 –8180 & 3^rd Res. at 8230 – 8270.

Note :: From last 6 year, we posted our ‘weekly review for Nifty’ regularly and in this long period many times Nifty opened gape up or gape down but we never gave new level. This time we saw more down side in Nifty when Nifty was at 8000 on Monday 11:00 AM, so first time we gave New support levels for Nifty in 6 year and as usual Nifty gives full respect to our support levels for rest of the week.

                                    

                               Nifty Review For This Week

We expect, 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.  Nifty have 1^st Sup. at 7960 – 7910 & 2^nd Sup. at 7870 – 7820  3^rdSup. at 7780 – 7730 and Nifty find 1^st Res. at 8050 – 8090 & 2^nd Res. at 8140 –8180 & 3^rd Res. at 8230 – 8270.

Positional Trading Strategy:

[1]  Open short below 8000 with stop loss 8090 for targets 7960 – 7910 / 7870 – 7820 / 7780 – 7730. 

                          

[2]  Open long above 8000 with stop loss 7910 for targets  8050 – 8090 / 8140 – 8180 / 8230 – 8270.

NIFTY :: OP = 8055.95 , HI = 8091.80 , LO = 7667.25 , CL = 8001.95.

                                                 

Ø  Bank Nifty Review

We said last week “  Bank Nifty will be traded with negative bias below 18080 and it would be declines towards 17900 – 17720 – 17540. Other hand above 18080 Bank Nifty will be traded with positive bias and it would be tries to touch 18260 – 18440 - 18620. “  We suggested Strategy:   [1]  Open short below 18080 with stop loss 18260 for targets 17990 – 17900 / 17810 – 17720 / 17630 – 17540.   [2]  Open long above 18080 with stop loss 17900 for targets  18170 – 18260 / 18350 – 18440 / 18530 – 18440.

Bank Nifty opened with huge down side gape and traded expected. In first half Bank Nifty declined very sharp below 16700 and registered low of 16670.55. After that Bank Nifty tried to recover the losses and settled above 17000 in second half.  Bank Nifty lost massive 845 points ( - 4.68 % ) and closed in red.

                                    

                           Bank Nifty Review For This Week

We expect, Bank Nifty will be traded with negative bias below 17180 and it would be declines towards 17000 – 16820 – 16640. Other hand above 17180 Bank Nifty will be traded with positive bias and it would be tries to touch 17360 – 17540 - 17720.  Bank Nifty has 1^st Sup. at 17090 – 17000 & 2^nd Sup. at 16910 – 16820  3^rd Sup. at 16730 – 16640 and Bank Nifty find 1^st Res. at 17270 – 17360 & 2^nd Res. at 17450 – 17540 & 3^rd Res. at 17630 - 17720.

Positional Trading Strategy:

[1]  Open short below 17180 with stop loss 17360 for targets 17090 – 17000 / 16910 – 16820 / 16730 – 16640. 

[2]  Open long above 17180 with stop loss 17000 for targets  17270 – 17360 / 17450 – 17540 / 17630 – 17720.

BANK NIFTY :: OP = 17446.35 , HI = 17569.80 , LO = 16670.55 , CL = 17211.95.

NEW WEEKLY SUPPORT LEVEL AT 8000 FOR NIFTY SPOT

24-08-2015

Below 8000 Nifty have 1^st Sup. at 7960 – 7910 & 2^nd Sup. at 7870 – 7820  3^rd Sup. at 7780 – 7730 and Nifty find 1^st Res. at 8050 – 8090 & 2^nd Res. at 8140 – 8180 & 3^rd Res. at 8230 – 8270.

Note :: We update this Nifty Level for your convenience.

Weekly Review For Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week “  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. “  We suggested 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 opened negative and traded expected. In first half Nifty registered high of 8530.60 then turned back and declined sharp towards 8200. Nifty achieved our all three down side targets and registered low of 8225.05 in second half. Nifty lost massive 218 points ( - 2.57 % ) and closed in red.

                                    

                                Nifty Review For This Week

We expect, Nifty will be traded with negative bias below 8270 and it would be declines towards 8180 – 8090 – 8000. Other hand above 8270 Nifty will be traded with positive bias and it would be tries to touch 8360 – 8450 - 8540.  Nifty have 1^st Sup. at 8230 – 8180 & 2^nd Sup. at 8140 – 8090  3^rd Sup. at 8050 – 8000 and Nifty find 1^st Res. at 8320 – 8360 & 2^nd Res. at 8410 – 8450 & 3^rd Res. at 8500 - 8540.

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 8270 with stop loss 8360 for targets 8230 – 8180 / 8140 – 8090 / 8050 – 8000. 

                          

[2]  Open long above 8270 with stop loss 8180 for targets  8320 – 8360 / 8410 – 8450 / 8500 – 8540.

NIFTY :: OP = 8530.50 , HI = 8530.60 , LO = 8225.05 , CL = 8299.95.

                                                

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 high of 18896.45 and achieved our 1^st upside target. After that Bank Nifty turned back towards our shorting level and declined very sharp below 17800. Bank Nifty achieved our all three down side targets and registered low of 17842.10 in second half.  Bank Nifty lost massive 666 points ( - 3.56 % ) and closed in red.

                                    

                              Bank Nifty Review For This Week

We expect, Bank Nifty will be traded with negative bias below 18080 and it would be declines towards 17900 – 17720 – 17540. Other hand above 18080 Bank Nifty will be traded with positive bias and it would be tries to touch 18260 – 18440 - 18620.  Bank Nifty has 1^st Sup. at 17990 – 17900 & 2^nd Sup. at 17810 – 17720  3^rd Sup. at 17630 – 17540 and Bank Nifty find 1^st Res. at 18170 – 18260 & 2^nd Res. at 18350 – 18440 & 3^rd Res. at 18530 - 18620.

Strategy:

[1]  Open short below 18080 with stop loss 18260 for targets 17990 – 17900 / 17810 – 17720 / 17630 – 17540. 

[2]  Open long above 18080 with stop loss 17900 for targets  18170 – 18260 / 18350 – 18440 / 18530 – 18440.

BANK NIFTY :: OP = 18763.05 , HI = 18896.45 , LO = 17842.10 , CL = 18057.20.

Weekly Review For Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week “  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. “  We suggested 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 opened positive and traded expected. In first half Nifty registered high of 8621.55 then turned back towards our shorting level and declined sharp below 8360. Nifty achieved our 2^nd down side target and registered low of 8337.95. After that Nifty gave smart up move and tried to recover the loss in second half. Nifty lost 46 points ( - 0.54 % ) and closed in red.

                                    

                                 Nifty Review For This Week

We expect same, 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.

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 = 8577.00 , HI = 8621.55 , LO = 8337.95 , CL = 8518.55.

                                                

Ø  Bank Nifty Review

We said last week “  Bank Nifty will be traded with negative bias below 18890 and it would be declines towards 18710 – 18530 – 18350. Other hand above 18890 Bank Nifty will be traded with positive bias and it would be tries to touch 19070 – 19250 - 19430. “  We suggested Strategy:   [1]  Open short below 18890 with stop loss 19070 for targets 18800 – 18710 / 18620 – 18530 / 18440 – 18350.   [2]  Open long above 18890 with stop loss 18710 for targets  18980 – 19070 / 19160 – 19250 / 19340 – 19430.

Bank Nifty opened positive and traded expected. In first half Bank Nifty registered high of 19071.35 and achieved our 1^st upside target then turned back towards our shorting level and declined sharp towards 18000 and achieved our all down side target and registered low of 18034.75. After that Bank Nifty gave smart up move and tried to recover the loss in second half.  Bank Nifty lost 169 points ( - 0.90 % ) and closed in red.

                                    

                                 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 has 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 = 18926.10 , HI = 19071.35 , LO = 18034.75 , CL = 18723.60.

Weekly Review For Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week “  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. “  We suggested 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 opened negative and traded expected. In first half Nifty achieved our 1^st down side target and registered low of 8448.25 and took support at 8450. After that Nifty turned up and tried to recover the loss and succeeded to do so. Nifty registered high of 8606.30 in second half. Nifty gained 31 points ( + 0.37 % ) and closed in green.

                                     

                               Nifty Review For This Week

We expect same, 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.

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 = 8510.65, HI = 8606.30 , LO = 8448.25 , CL = 8564.60.

                                                

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 high of 19103.70 and achieved our 2^nd upside targets. After that Bank Nifty declined sharp towards 18850 and lost half of the gains in second half.  Bank Nifty gained 163 points ( + 0.87 % ) and closed in green.

                                    

                             Bank Nifty Review For This Week

We expect, Bank Nifty will be traded with negative bias below 18890 and it would be declines towards 18710 – 18530 – 18350. Other hand above 18890 Bank Nifty will be traded with positive bias and it would be tries to touch 19070 – 19250 - 19430.  Bank Nifty has 1^st Sup. at 18800 – 18710 & 2^nd Sup. at 18620 – 18530  3^rd Sup. at 18440 – 18350 and Bank Nifty find 1^st Res. at 18980 – 19070 & 2^nd Res. at 19160 – 19250 & 3^rd Res. at 19340 - 19430.

Strategy:

[1]  Open short below 18890 with stop loss 19070 for targets 18800 – 18710 / 18620 – 18530 / 18440 – 18350. 

[2]  Open long above 18890 with stop loss 18710 for targets  18980 – 19070 / 19160 – 19250 / 19340 – 19430.

BANK NIFTY :: OP = 18782.65 , HI = 19103.70 , LO = 18758.90 , CL = 18893.55.

Weekly Review For Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week “  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. “  We suggested 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 opened negative and traded expected. In first half Nifty declined sharp towards 8300 and achieved our 2^nd down side targets and registered low of 8321.75. Nifty took support at 8320 then turned up and tried to recover all the losses and registered high of 8548.95 in second half. Nifty gained 11 points ( + 0.13 % ) and closed in green.

                                     

                              Nifty Review For This Week

We expect same, 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 RBI Monetary policy review on Tuesday. So 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 = 8492.10, HI = 8548.95 , LO = 8321.75 , CL = 8532.85.

                                                

Ø  Bank Nifty Review

We said last week “  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. “  We suggested 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 opened negative and traded expected. In first half Bank Nifty declined sharp below 18200 and achieved our 2^nd down side targets and registered low of 18174.20. Bank Nifty took support at 18170 then turned up towards our buying level and achieved our 1^st upside target and registered high of 18828.85 in second half.  Bank Nifty gained 94 points ( + 0.50 % ) and closed in green.

                                    

                             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 has 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 = 18566.55, HI = 18828.55 , LO = 18174.20 , CL = 1729.85.