Weekly Review For Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week Nifty will be traded with negative bias below 7960 and it would be declines towards 7870 – 7780 – 7690. Other hand above 7960 Nifty will be traded with positive bias and it would be tries to touch 8050 – 8140 - 8230. “ 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 positive and traded expected. In first half Nifty registered low of 8005.10 and traded with strength almost all days of the week. Nifty gave smart rally above 8200 and registered high of 8232.20 in second half. Nifty gained massive 238 points ( + 3.00 % ) and closed in green.

                                    

                                 Nifty Review For This Week

We expect, Nifty will be traded with negative bias below 8180 and it would be declines towards 8090 – 8000 – 7910. Other hand above 8180 Nifty will be traded with positive bias and it would be tries to touch 8270 – 8360 - 8450.  Nifty have 1^st Sup. at 8140 – 8090 & 2^nd Sup. at 8050 – 8000  3^rd Sup. at 7960 – 7910 and Nifty find 1^st Res. at 8230 – 8270 & 2^nd Res. at 8320 –8360 & 3^rd Res. at 8410 – 8450.

Positional Trading Strategy:

[1]  Open short below 8180 with stop loss 8270 for targets 8140 – 8090 / 8050 – 8000 / 7960 – 7910. 

                          

[2]  Open long above 8180 with stop loss 8090 for targets  8230 – 8270 / 8320 – 8360 / 8410 – 8450.

NIFTY :: OP = 8005.10 , HI = 8232.20 , LO = 8005.10 , CL = 8189.70.

                                                

Ø  Bank Nifty Review

We said last week “  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. “ Suggested 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 opened positive and traded expected. In first half Bank Nifty registered low of 17362.70 than traded with strength above it all the week. Bank Nifty registered high of 17827.15 then lost momentum and declined towards 17400 but any how succeeded to hold the gains in second half.  Bank Nifty lost 46 points ( - 0.27 % ) and closed in red.

                                    

                             Bank Nifty Review For This Week

We expect same, Bank Nifty will be traded with negative bias below 17540 and it would be declines towards 17360 – 17180 – 17000. Other hand above 17540 Bank Nifty will be traded with positive bias and it would be tries to touch 17720 – 17900 - 18080.  Bank Nifty has 1^st Sup. at 17450 – 17360 & 2^nd Sup. at 17270 – 17180  3^rd Sup. at 17090 – 17000 and Bank Nifty find 1^st Res. at 17630 – 17720 & 2^nd Res. at 17810 – 17900 & 3^rd Res. at 17990 - 18080.

Positional Trading Strategy:

[1]  Open short below 17540 with stop loss 17720 for targets 17450 – 17360 / 17270 – 17180 / 17090 – 17000. 

[2]  Open long above 17540 with stop loss 17360 for targets  17630 – 17720 / 17810 – 17900 / 17990 – 18080.

BANK NIFTY :: OP = 17373.55 , HI = 17827.15 , LO = 17362.70 , CL = 17590.25.