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 7715.80 than turned up towards our buying level and gave smart rally above 8100.. Nifty achieved our all three upside targets and registered high of 8164.20 in second half. Nifty gained massive 406 points ( + 5.25 % ) and closed in green.                           

                                 Nifty Review For This Week

We expect, Nifty will be traded with negative bias below 8090 and it would be declines towards 8000 – 7910 – 7820. Other hand above 8090 Nifty will be traded with positive bias and it would be tries to touch 8180 – 8270 - 8360.  Nifty have 1st Sup. at 8090 – 8050 & 2nd Sup. at 8000 – 7960 & 3rd Sup. at 7910 – 7870 and Nifty find 1st Res. at 8180 – 8230 & 2nd Res. at 8270 –8320 & 3rd Res. at 8360 – 8410.

Positional Trading Strategy:

[1]  Open short below 8140 with stop loss 8230 for targets 8090 – 8050 / 8000 – 7960 / 7910 – 7870. 

               

[2]  Open long above 8140 with stop loss 8050 for targets  8180 – 8230 / 8270 – 8320 / 8360 – 8410.

NIFTY :: OP = 7813.95 , HI = 8164.20 , LO = 7715.80 , CL = 8156.65. 

                                             

Ø  Bank Nifty Review

We said last week “ 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. “ Suggested 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 opened positive and traded expected. In first half Bank Nifty registered low of 16368 than turned up towards our buying level and then gave smart rally above 17500. Bank Nifty achieved our all three upside targets and registered high of 17543.30 in second half. Bank Nifty gained massive 1030 points ( + 6.25 % ) and closed in green.        

                                                                   

                                   Bank Nifty Review For This Week

We expect, Bank Nifty will be traded with negative bias below 17540 and it would be declines towards 17360 – 17180 – 17000. Other hand above 17540 Bank Nifty will be traded with positive bias and it would be tries to touch 17720 – 17900 - 18080.  Bank Nifty has 1st Sup. at 17450 – 17360 & 2nd Sup. at 17270 – 17180 & 3rd Sup. at 17090 – 17000 and Bank Nifty find 1st Res. at 17630 – 17720 & 2nd Res. at 17810 – 17900 & 3rd Res. at 17990 - 18080.

Positional Trading Strategy:

[1]  Open short below 17540 with stop loss 17720 for targets 17450 – 17360 / 17270 – 17180 / 17090 – 17000. 

[2]  Open long above 17540 with stop loss 17360 for targets  17630 – 17720 / 17810– 17900/ 17990 – 18080.

BANK NIFTY :: OP = 16560.15 , HI = 17543.30 , LO = 16368.00 , CL = 17511.80.