Weekly Review For Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week “ 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. “ Suggested 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 opened positive and traded expected. In first half Nifty registered low of 8134.30 than turned up towards our buying level and gave rally towards 8300. Nifty achieved our 1^st upside target and registered high of 8262.00 in second half. Nifty gained 64 points ( + 0.79 % ) and closed in green. 

                                                        

                                 Nifty Review For This Week

We expect, Nifty will be traded with negative bias below 8270 and it would be declines towards 8180 – 8090 – 8000. Other hand above 8270 Nifty will be traded with positive bias and it would be tries to touch 8360 – 8450 - 8540.  Nifty have 1st Sup. at 8230 – 8180 & 2nd Sup. at 8140 – 8090 & 3rd Sup. at 8050 – 8000 and Nifty find 1st Res. at 8320 – 8360 & 2nd Res. at 8410 –8450 & 3rd Res. at 8500 – 8540.

Positional Trading Strategy:

[1]  Open short below 8230 with stop loss 8320 for targets 8180 – 8140 / 8090 – 8050 / 8000 – 7960. 

               

[2]  Open long above 8230 with stop loss 8140 for targets  8270 – 8320 / 8360 – 8400 / 8450 – 8500.

NIFTY :: OP = 8166.50 , HI = 8262.00 , LO = 8134.30 , CL = 8220.80. 

                                             

Ø  Bank Nifty Review

We said last week “ 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. “ Suggested 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 opened positive and traded expected. In first half Bank Nifty registered low of 17350.45 than turned up towards our buying level and then gave rally towards 17800. Bank Nifty achieved our 1^st upside target and registered high of 17762.05 in second half. Bank Nifty gained 169 points ( + 0.97 % ) and closed in green.        

                                                                   

                            Bank Nifty Review For This Week

We expect same, Bank Nifty will be traded with negative bias below 17720 and it would be declines towards 17540 – 17360 – 17180. Other hand above 17720 Bank Nifty will be traded with positive bias and it would be tries to touch 17900 – 18080 - 18260.  Bank Nifty has 1st Sup. at 17630 – 17540 & 2nd Sup. at 17450 – 17360 & 3rd Sup. at 17270 – 17180 and Bank Nifty find 1st Res. at 17810 – 17900 & 2nd Res. at 17990 – 18080 & 3rd Res. at 18170 - 18260.

Positional Trading Strategy:

[1]  Open short below 17720 with stop loss 17900 for targets 17630 – 17540 / 17450 – 17360 / 17270 – 17180. 

[2]  Open long above 17720 with stop loss 17540 for targets  17810 – 17900 / 17990– 18080/ 18170 – 18260.

BANK NIFTY :: OP = 17580.85 , HI = 17762.05 , LO = 17350.45 , CL = 17680.80.