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 7550 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 7842.75 than turned up towards our buying level and then gave rally towards 8000. Nifty achieved our 2^nd upside targets and registered high of 7978.45 in second half. Nifty gained 48 points ( + 0.62 % ) 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 1st Sup. at 7870 – 7820 & 2nd Sup. at 7780 – 7730 & 3rd Sup. at 7690 – 7640 and Nifty find 1st Res. at 7960 – 8000 & 2nd Res. at 8050 –8090 & 3rd Res. at 8140 – 8180.

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 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 = 7908.15 , HI = 7978.45 , LO = 7842.75 , CL = 7899.30. 

                                             

Ø  Bank Nifty Review

We said last week “ Bank Nifty will be traded with negative bias below 16280 and it would be declines towards 16100 – 15920 – 15740. Other hand above 16280 Bank Nifty will be traded with positive bias and it would be tries to touch 16460 – 16640 - 16820. “ Suggested Positional Trading Strategy:   [1]  Open short below 16280 with stop loss 16460 for targets 16190 – 16100 / 16010 – 15920 / 15830 – 15740.   [2]  Open long above 16280 with stop loss 16100 for targets  16370 – 16460 / 16550– 16640/ 16730 – 16820.

Bank Nifty opened positive and traded expected. In first half Bank Nifty registered low of 16011.90 and achieved our 1^st down side target. After that Bank Nifty turned up towards our buying level and then gave smart rally and achieved our all three upside targets and registered high of 16769.55 in second half. Bank Nifty gained massive 424 points ( + 2.61 % ) and closed in green.        

                                                                   

                            Bank Nifty Review For This Week

We expect, Bank Nifty will be traded with negative bias below 16730 and it would be declines towards 16550 – 16370 – 16190. Other hand above 16730 Bank Nifty will be traded with positive bias and it would be tries to touch 16910 – 17090 - 17270.  Bank Nifty has 1st Sup. at 16640 – 16550 & 2nd Sup. at 16460 – 16370 & 3rd Sup. at 16280 – 16190 and Bank Nifty find 1st Res. at 16820 – 16910 & 2nd Res. at 17000 – 17090 & 3rd Res. at 17180 - 17270.

Positional Trading Strategy:

[1]  Open short below 16730 with stop loss 16910 for targets 16640 – 16550 / 16460 – 16370 / 16280 – 16190. 

[2]  Open long above 16730 with stop loss 16550 for targets  16820 – 16910 / 17000– 17090/ 17180 – 17270.

BANK NIFTY :: OP = 16328.70 , HI = 16769.55 , LO = 16011.90 , CL = 16703.40.