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 7820 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 high of 7940.10 and achieved our 1^st upside target. After that Nifty turned back towards our shorting level and declined sharp below 7800. Nifty registered low of 7735.75 and achieved our 1^st down side target in second half. Nifty lost 65 points ( - 0.83 % ) and closed in red.                           

                          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.

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 = 7831.20 , HI = 7940.10 , LO = 7735.75 , CL = 7749.70. 

                                             

Ø  Bank Nifty Review

We said last week “ 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. “ Suggested 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 opened positive and traded expected. In first half Bank Nifty registered low of 16431.65 and achieved our 1^st down side target. After that Bank Nifty turned up towards our buying level and then gave rally towards 16910. Bank Nifty achieved our 1^st upside target and registered high of 16903.35 not succeeded to hold the gains in second half. Bank Nifty lost 235 points ( - 1.41 % ) and closed in red.        

                                                                   

                                 Bank Nifty Review For This Week

We expect, Bank Nifty will be traded with negative bias below 16460 and it would be declines towards 16280 – 16100 – 15920. Other hand above 16460 Bank Nifty will be traded with positive bias and it would be tries to touch 16640 – 16820 - 17000.  Bank Nifty has 1st Sup. at 16370 – 16280 & 2nd Sup. at 16190 – 16100 & 3rd Sup. at 16010 – 15920 and Bank Nifty find 1st Res. at 16550 – 16640 & 2nd Res. at 16730 – 16820 & 3rd Res. at 16910 - 17000.

Positional Trading Strategy:

[1]  Open short below 16460 with stop loss 16640 for targets 16370 – 16280 / 16190 – 16100 / 16010 – 15920. 

[2]  Open long above 16460 with stop loss 16280 for targets  16550 – 16640 / 16730– 16820/ 16910 – 17000.

BANK NIFTY :: OP = 16744.15 , HI = 16903.35 , LO = 16431.65 , CL = 16481.45.