Weekly Review For Nifty & Bank Nifty

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 positive and traded expected. In first half Nifty registered low of 7753.55 then turned up and gave rally towards 7900. Nifty registered high of 7916.05 and achieved our 2^nd upside target in second half. Nifty gained 81 points ( + 1.05 % ) 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 – 7550. 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.

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 :: OP = 7755.25 , HI = 7916.05 , LO = 7753.55 , CL = 7814.90. 

                                             

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 16357.00 than gave smart rally towards 17000.  Bank Nifty registered high of 16962 and achieved our all three upside targets in second half. Bank Nifty gained massive 420 points ( + 2.58 % ) 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 = 16357.00 , HI = 16962.00 , LO = 16357.00 , CL = 1676.90.