Weekly Review For Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week “ Nifty will be traded with negative bias below 8180 and it would be declines towards 8090 – 8000 – 7910. Other hand above 8180 Nifty will be traded with positive bias and it would be tries to touch 8270 – 8360 - 8450. “ Suggested Positional Trading Strategy :   [1]  Open short below 8180 with stop loss 8270 for targets 8140 – 8090 / 8050 – 8000 / 7960 – 7910.   [2]  Open long above 8180 with stop loss 8090 for targets  8230 – 8270 / 8320 – 8360 / 8410 – 8450.

               

Nifty opened negative and traded expected. In first half Nifty registered low of 8063.90 than turned up and registered high of 8213.20. After that Nifty turned back towards our shorting level and declined below 8100 and achieved our 1^st down side target in second half and closed flat. 

                                                 

                               Nifty Review For This Week

We expect same, Nifty will be traded with negative bias below 8180 and it would be declines towards 8090 – 8000 – 7910. Other hand above 8180 Nifty will be traded with positive bias and it would be tries to touch 8270 – 8360 - 8450.  Nifty have 1st Sup. at 8140 – 8090 & 2nd Sup. at 8050 – 8000 & 3rd Sup. at 7960 – 7910 and Nifty find 1st Res. at 8230 – 8270 & 2nd Res. at 8320 –8360 & 3rd Res. at 8410 – 8450.

Positional Trading Strategy:

[1]  Open short below 8180 with stop loss 8270 for targets 8140 – 8090 / 8050 – 8000 / 7960 – 7910. 

               

[2]  Open long above 8180 with stop loss 8090 for targets  8230 – 8270 / 8320 – 8360 / 8410 – 8450.

NIFTY :: OP = 8102.25 , HI = 8213.20 , LO = 8063.90 , CL = 8170.20. 

                                             

Ø  Bank Nifty Review

We said last week “ Bank Nifty will be traded with negative bias below 17810 and it would be declines towards 17630 – 17450 – 17270. Other hand above 17810 Bank Nifty will be traded with positive bias and it would be tries to touch 17990 – 18170 - 18350. “ Suggested Positional Trading Strategy:   [1]  Open short below 17810 with stop loss 17990 for targets 17720 – 17630 / 17540 – 17450 / 17360 – 17270.   [2]  Open long above 17810 with stop loss 17630 for targets  17900 – 17990 / 18080– 18170/ 18260 – 18350.

Bank Nifty opened negative and traded expected. In first half Bank Nifty registered low of 17527.55 than turned up towards our buying level and almost achieved our 1^st upside target. After that Bank Nifty declined below our shorting level and achieved our 1^st down side target in second half. Bank Nifty lost 132 points ( - 0.74 % ) and closed in red.        

                                                                   

                               Bank Nifty Review For This Week

We expect, 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 = 17620.55 , HI = 17943.65 , LO = 17527.55 , CL = 17696.05.