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 - 8560. “ Suggested Positional Trading 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 positive and traded expected. In first half Nifty registered high of 8336.30 than turned back towards our shorting level and declined sharp towards 8000. Nifty achieves our 2^nd down side targets and registered low of 8044.40 in second half. Nifty lost massive 229 points ( - 2.77 % ) and closed in red.

                                    

                               Nifty Review For This Week

We expect, Nifty will be traded with negative bias below 8090 and it would be declines towards 8000 – 7910 – 7820. Other hand above 8090 Nifty will be traded with positive bias and it would be tries to touch 8180 – 8270 - 8360.  Nifty have 1^st Sup. at 8000 – 7960 & 2^nd Sup. at 7910 – 7870 & 3^rd Sup. at 7820 – 7780 and Nifty find 1^st Res. at 8090 – 8140 & 2^nd Res. at 8180 –8230 & 3^rd Res. at 8270 – 8320.

Positional Trading Strategy:

[1]  Open short below 8050 with stop loss 8140 for targets 8000 – 7960 / 7910 – 7870 / 7820 – 7780. 

                          

[2]  Open long above 8050 with stop loss 7960 for targets  8090 – 8140 / 8180 – 8230 / 8270 – 8320.

NIFTY :: OP = 8333.65 , HI = 8336.30 , LO = 8044.40 , CL = 8065.80.

                                                

Ø  Bank Nifty Review

We said last week “  Bank Nifty will be traded with negative bias below 17900 and it would be declines towards 17720 – 17540 – 17360. Other hand above 17900 Bank Nifty will be traded with positive bias and it would be tries to touch 18080 – 18260 - 18440. “ Suggested Positional Trading Strategy:   [1]  Open short below 17900 with stop loss 18080 for targets 17810 – 17720 / 17630 – 17540 / 17450 – 17360.   [2]  Open long above 17900 with stop loss 17720 for targets  17990 – 18080 / 18170 – 18260 / 18350 – 18440.

Bank Nifty opened positive and traded expected. In first half Bank Nifty registered high of 18029.05 than turned back towards our shorting level and declined sharp towards 17180 . Bank Nifty registered low of 17170.35 and achieved our all three down side targets in second half.  Bank Nifty lost massive 579 points ( - 3.23 % ) and closed in red.

                                    

                                         

                             Bank Nifty Review For This Week

We expect, Bank Nifty will be traded with negative bias below 17360 and it would be declines towards 17180 – 17000 – 16820. Other hand above 17360 Bank Nifty will be traded with positive bias and it would be tries to touch 17540 – 17720 - 17900.  Bank Nifty has 1^st Sup. at 17270 – 17180 & 2^nd Sup. at 17090 – 17000 & 3^rd Sup. at 16910 – 16820 and Bank Nifty find 1^st Res. at 17450 – 17540 & 2^nd Res. at 17630 – 17720 & 3^rd Res. at 17810 - 17900.

Positional Trading Strategy:

[1]  Open short below 17360 with stop loss 17540 for targets 17270 – 17180 / 17090 – 17000 / 16910 – 16820. 

[2]  Open long above 17360 with stop loss 17180 for targets  17450 – 17540 / 17630 – 17720 / 17810 – 17900.

BANK NIFTY :: OP = 18027.10 , HI = 18029.05 , LO = 17170.35 , CL = 17354.50.