Weekly Review For Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week “ Nifty will be traded with negative bias below 7460 and it would be declines towards 7370 – 7280 – 7190. Other hand above 7460 Nifty will be traded with positive bias and it would be tries to touch 7550 – 7640 - 7730. “ Suggested Positional Trading Strategy :   [1]  Open short below 7460 with stop loss 7550 for targets 7420 – 7370 / 7330 – 7280 / 7240 – 7190.   [2]  Open long above 7460 with stop loss 7370 for targets  7510 – 7550 / 7600 – 7640 / 7690 – 7730.

               

Nifty opened flat and traded expected. In first half Nifty registered low of 7424.30 than turned up towards our buying level and achieved our 1^st upside target. Nifty registered high of 7547.10 in second half. Nifty gained 24 points ( + 0.33 % ) and closed in green.                            

                               Nifty Review For This Week

We expect, Nifty will be traded with negative bias below 7460 and it would be declines towards 7370 – 7280 – 7190. Other hand above 7460 Nifty will be traded with positive bias and it would be tries to touch 7550 – 7640 - 7730.  Nifty have 1st Sup. at 7460 – 7420 & 2nd Sup. at 7370 – 7330 & 3rd Sup. at 7280 – 7240 and Nifty find 1st Res. at 7550 – 7600 & 2nd Res. at 7640 –7690 & 3rd Res. at 7730 – 7780.

Positional Trading Strategy:

[1]  Open short below 7510 with stop loss 7600 for targets 7460 – 7420 / 7370 – 7330 / 7280 – 7240. 

               

[2]  Open long above 7510 with stop loss 7420 for targets  7550 – 7600 / 7640 – 7690 / 7730 – 7780.

NIFTY :: OP = 7486.40 , HI = 7547.10 , LO = 7424.30 , CL = 7510.20. 

                                             

Ø  Bank Nifty Review

We said last week “ Bank Nifty will be traded with negative bias below 15380 and it would be declines towards 15200 – 15020 – 14840. Other hand above 15380 Bank Nifty will be traded with positive bias and it would be tries to touch 15560 – 15740 - 15920. “ Suggested Positional Trading Strategy:   [1]  Open short below 15380 with stop loss 15560 for targets 15290 – 15200 / 15110 – 15020 / 14930 – 14840.   [2]  Open long above 15380 with stop loss 15200 for targets  15470 – 15560 / 15650 – 15740 / 15830 – 15920.

Bank Nifty opened negative and traded expected. In first half Bank Nifty registered low of 14989.40 and achieved our 2^nd down side targets. After that Bank Nifty tried to recover the loss and registered high of 15354.15 in second half. Bank Nifty lost 171 points ( - 1.11 % ) and closed in red.        

                                                                   

                             Bank Nifty Review For This Week

We expect, Bank Nifty will be traded with negative bias below 15200 and it would be declines towards 15020 – 14840 – 14660. Other hand above 15200 Bank Nifty will be traded with positive bias and it would be tries to touch 15380 – 15560 - 15740.  Bank Nifty has 1st Sup. at 15110 – 15020 & 2nd Sup. at 14930 – 14840 & 3rd Sup. at 14750 – 14660 and Bank Nifty find 1st Res. at 15290 – 15380 & 2nd Res. at 15470 – 15560 & 3rd Res. at 15650 - 15740.

Positional Trading Strategy:

[1]  Open short below 15200 with stop loss 15380 for targets 15110 – 15020 / 14930 – 14840 / 14750 – 14660. 

[2]  Open long above 15200 with stop loss 15020 for targets  15290 – 15380 / 15470 – 15560 / 15650 – 15740.

BANK NIFTY :: OP = 15323.45 , HI = 15354.15 , LO = 14989.40 , CL = 15168.20.