Weekly Review For Nifty & BankNifty

JAY SWAMINARAYAN

We said last week “ Nifty will be traded with negative bias below 7730 and it would be declines towards 7640 – 7550 – 7460. Other hand above 7730 Nifty will be traded with positive bias and it would be tries to touch 7820 – 7910 - 8000. “ Suggested Positional Trading Strategy :   [1]  Open short below 7730 with stop loss 7820 for targets 7690 – 7640 / 7600 – 7550 / 7510 – 7460.   [2]  Open long above 7730 with stop loss 7640 for targets  7780 – 7820 / 7870 – 7910 / 7960 – 8000.

               

Nifty opened negative and traded expected. In first half Nifty registered low of 7733.45 than turned up towards our buying level and gave rally towards 7900.  Nifty achieved our 1^st upside target and registered high of 7888.75 in second half. Nifty gained 99 points ( + 1.28 % ) and closed in green.

                                   

                            Nifty Review For This Week

We expect, Nifty will be traded with negative bias below 7820 and it would be declines towards 7730 – 7640 – 7530. Other hand above 7820 Nifty will be traded with positive bias and it would be tries to touch 7910 – 8000 - 8090.  Nifty have 1st Sup. at 7780 – 7730 & 2nd Sup. at 7690 – 7640 & 3rd Sup. at 7600 – 7550 and Nifty find 1st Res. at 7870 – 7910 & 2nd Res. at 7960 –8000 & 3rd Res. at 8050 – 8090.

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

Positional Trading Strategy:

[1]  Open short below 7870 with stop loss 7960 for targets 7820 – 7780 / 7730 – 7690 / 7640 – 7600. 

               

[2]  Open long above 7870 with stop loss 7780 for targets  7910 – 7960 / 8000 – 8050 / 8090 – 8140.

NIFTY :: OP = 7745.65 , HI = 7888.75 , LO = 7733.45 , CL = 7861.05.

                                               

Ø  Bank Nifty Review

We said last week “ Bank Nifty will be traded with negative bias below 16550 and it would be declines towards 16370 – 16190 – 16010. Other hand above 16550 Bank Nifty will be traded with positive bias and it would be tries to touch 16730 – 16910 - 17090. “ Suggested Positional Trading Strategy:   [1]  Open short below 16550 with stop loss 16730 for targets 16460 – 16370 / 16280 – 16190 / 16100 – 16010.   [2]  Open long above 16550 with stop loss 16370 for targets  16640 – 16730 / 16820 – 16910 / 17000 – 17090.

Bank Nifty opened flat and traded expected. In first half Bank Nifty registered low of 16580.65 than turned up and gave rally towards 17000. Bank Nifty achieved our 2^nd upside targets and registered high of 16946.10 in second half.  Bank Nifty gained  216 points ( + 1.31 % ) and closed in green.                                                       

                       

                           Bank Nifty Review For This Week

We expect, Bank Nifty will be traded with negative bias below 16820 and it would be declines towards 16640 – 16460 – 16280. Other hand above 16820 Bank Nifty will be traded with positive bias and it would be tries to touch 17000 – 17180 - 17360.  Bank Nifty has 1st Sup. at 16730 – 16640 & 2nd Sup. at 16550 – 16460 & 3rd Sup. at 16370 – 16280 and Bank Nifty find 1st Res. at 16910 – 17000 & 2nd Res. at 17090 – 17180 & 3rd Res. at 17270 - 17360.

Positional Trading Strategy:

[1]  Open short below 16820 with stop loss 17000 for targets 16730 – 16640 / 16550 – 16460 / 16370 – 16280. 

[2]  Open long above 16820 with stop loss 16640 for targets  16910 – 17000 / 17090 – 17180 / 17270 – 17360.

BANK NIFTY :: OP = 16593.40 , HI = 16946.10 , LO = 16580.65 , CL = 16811.00.