Weekly Review For Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week “ Nifty will be traded with negative bias below 7550 and it would be declines towards 7460 – 7370 – 7280. Other hand above 7550 Nifty will be traded with positive bias and it would be tries to touch 7640 – 7730 - 7820. “ Suggested Positional Trading Strategy :   [1]  Open short below 7600 with stop loss 7690 for targets 7550 – 7510 / 7460 – 7420 / 7370 – 7330.   [2]  Open long above 7600 with stop loss 7510 for targets  7640 – 7690 / 7730 – 7780 / 7820 – 7870.

               

Nifty opened positive and traded expected. In first half Nifty registered low of 7617.70 than turned up and gave rally towards 7730. Nifty achieved our 1^st upside target and registered high of 7728.20 in second half. Nifty gained 112 points ( + 1.47 % ) and closed in green.                            

                               Nifty Review For This Week

We expect, 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.  Nifty have 1st Sup. at 7690 – 7640 & 2nd Sup. at 7600 – 7550 & 3rd Sup. at 7510 – 7460 and Nifty find 1st Res. at 7780 – 7820 & 2nd Res. at 7870 –7910 & 3rd Res. at 7960 – 8000.

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 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 :: OP = 7619.20 , HI = 7728.20 , LO = 7617.70 , CL = 7716.50. 

                                             

Ø  Bank Nifty Review

We said last week “ Bank Nifty will be traded with negative bias below 15650 and it would be declines towards 15470 – 15290 – 15110. Other hand above 15650 Bank Nifty will be traded with positive bias and it would be tries to touch 15830 – 16010 - 16190. “ Suggested Positional Trading Strategy:   [1]  Open short below 15650 with stop loss 15830 for targets 15560 – 15470 / 15380 – 15290 / 15200 – 15110.   [2]  Open long above 15650 with stop loss 15470 for targets  15740 – 15830 / 15920– 16010 / 16100 – 16190.

Bank Nifty opened positive and traded expected. In first half Bank Nifty registered low of 15735.55 than turned up and gave rally towards 16000. Bank Nifty registered high of 15967.85 in second half. Bank Nifty gained massive 486 points ( + 3.21 % ) and closed in green.        

                                                                    

                          Bank Nifty Review For This Week

We expect, Bank Nifty will be traded with negative bias below 15920 and it would be declines towards 15740 – 15560 – 15380. Other hand above 15650 Bank Nifty will be traded with positive bias and it would be tries to touch 16100 – 16280 - 16460.  Bank Nifty has 1st Sup. at 15830 – 15740 & 2nd Sup. at 15650 – 15560 & 3rd Sup. at 15470 – 15380 and Bank Nifty find 1st Res. at 16010 – 16100 & 2nd Res. at 16190 – 16280 & 3rd Res. at 16370 - 16460.

Positional Trading Strategy:

[1]  Open short below 15920 with stop loss 16100 for targets 15830 – 15740 / 15650 – 15560 / 15470 – 15380. 

[2]  Open long above 15920 with stop loss 15740 for targets  16010 – 16100 / 16190– 16280 / 16370 – 16460.

BANK NIFTY :: OP = 15735.55 , HI = 15967.85 , LO = 15735.55 , CL = 15887.75.