Weekly Review For Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week “ Nifty will be traded with negative bias below 7820 and it would be declines towards 7730 – 7640 – 7550. Other hand above 7820 Nifty will be traded with positive bias and it would be tries to touch 7910 – 8000 - 8090. “ Suggested Positional Trading Strategy:   [1]  Open short below 7820 with stop loss 7910 for targets 7780 – 7730 / 7690 – 7640 / 7600 – 7550.   [2]  Open long above 7820 with stop loss 7730 for targets  7870 – 7910 / 7960 – 8000 / 8050 – 8090.

                                                              

Nifty opened positive and traded expected. In first half Nifty registered low of 7812.65 than turned up towards our buying level and rallied towards 7960. Nifty achieved our 1^st upside target and registered high of 7959.30 in second half. Nifty gained 86 points ( + 1.10 % ) and closed in green.

                                    

                             Nifty Review For This Week

We expect, Nifty will be traded with negative bias below 7910 and it would be declines towards 7820 – 7730 – 7640. Other hand above 7910 Nifty will be traded with positive bias and it would be tries to touch 8000 – 8090 - 8180.  Nifty have 1^st Sup. at 7870 – 7820 & 2^nd Sup. at 7780 – 7730 & 3^rd Sup. at 7690 – 7640 and Nifty find 1^st Res. at 7960 – 8000 & 2^nd Res. at 8050 –8090 & 3^rd Res. at 8140 – 8180.

We expect volatility to remains in the market on account of RBI Monetary policy review on Tuesday. So be cautious and trade carefully.

Positional Trading Strategy:

[1]  Open short below 7910 with stop loss 8000 for targets 7870 – 7820 / 7780 – 7730 / 7690 – 7640. 

                          

[2]  Open long above 7910 with stop loss 7820 for targets  7960 – 8000 / 8050 – 8090 / 8140 – 8180.

NIFTY :: OP = 7869.50 , HI = 7959.30 , LO = 7812.65 , CL = 7942.70.

                                                

Ø  Bank Nifty Review

We said last week “ Bank Nifty will be traded with negative bias below 17090 and it would be declines towards 16910 – 16730 – 16550. Other hand above 17090 Bank Nifty will be traded with positive bias and it would be tries to touch 17270 – 17450 - 17630. “ Suggested Positional Trading Strategy:   [1]  Open short below 17090 with stop loss 17270 for targets 17000 – 16910 / 16820 – 16730 / 16640 – 16550.   [2]  Open long above 17090 with stop loss 16910 for targets  17180 – 17270 / 17360 – 17450 / 17540 – 17630.

Bank Nifty opened positive and traded expected. In first half Bank Nifty registered low of 16964.90 than turned up towards our buying level and gave smart rally towards 17400. Bank Nifty achieved our 1^st upside target and registered high of 17403.65 in second half.  Bank Nifty gained massive 315 points ( + 1.85 % ) and closed in green.

                                    

                                         

                             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 = 17120.25 , HI = 17403.65 , LO = 16964.90 , CL = 17370.95.