JAY SWAMINARAYAN
We said
last week “ Nifty will be traded with negative bias below 8540 and it
would be declines towards 8450 – 8360 – 8270. Other hand above 8540
Nifty will be traded with positive bias and it would be tries to touch 8630 –
8720 - 8810. “ Suggested Positional Trading Strategy : [1]
Open short below 8540 with stop loss 8630 for targets 8500 – 8450
/ 8410 – 8360 / 8320 – 8270.
[2] Open long above 8540 with stop loss 8450 for
targets 8590 – 8630 / 8680 –
8720 / 8770 – 8810.
Nifty
opened positive and traded expected. In first half Nifty registered high of
8587.10 than turned back and declined below 8500. Nifty traded in narrow range
of 110 points and registered low of 8476.70 in second half. Nifty closed flat
and remains technical level same.
Nifty Review For This Week
We expect
same, Nifty will be traded with negative bias below 8540 and it would be
declines towards 8450 – 8360 – 8270. Other hand above 8540 Nifty will be
traded with positive bias and it would be tries to touch 8630 – 8720 -
8810. Nifty have 1st Sup. at 8500 – 8450
& 2nd Sup. at 8410 – 8360 & 3rd Sup. at 8320 – 8270 and
Nifty find 1st Res. at 8590 – 8630 & 2nd Res. at 8680 –8720 &
3rd Res. at 8770 – 8810.
We expect
volatility to remains in the market on account of F & O expiry in this week. Hence be cautious and
trade carefully.
Positional
Strategy:
[1] Nifty looks negative below 8540 with support
8630 & resistance are 8500 – 8450 / 8410 – 8360 / 8320 –
8270.
[2] Nifty looks positive above 8540 with support
8450 & resistance are 8590 – 8630 / 8680 – 8720 / 8770 –
8810.
NIFTY ::
OP = 8564.05 , HI = 8587.10 , LO = 8476.70 , CL = 8541.20.
Disclaimer:: This view is only for education
purpose. We don’t recommend any buy or sell. [Strictly restricts for paper
exercise only]
Ø
Bank Nifty Review
We said
last week “ Bank Nifty will be traded with negative bias below 18980 and it
would be declines towards 18800 – 18620 – 18440. Other hand above 18980 Bank
Nifty will be traded with positive bias and it would be tries to touch 19160 –
19340 - 19520. “ Suggested Positional Trading
Strategy: [1] Open short below 18980 with stop loss 19160
for targets 18890 – 18800 / 18710 – 18620 / 18530 – 18440. [2]
Open long above 18980 with stop loss 18800 for targets 19070 – 19160 / 19250– 19340/ 19430
– 19520.
Bank Nifty
opened positive and traded expected. In first half Bank Nifty registered high
of 19158.00 and achieved our 1si upside target. After that Bank Nifty turned
back towards our shorting level and then declined sharp towards 18500. Bank
Nifty registered low of 18551.30 and achieved our all three down side targets
in second half. Bank Nifty lost 263 points ( - 1.39 % ) and closed in red.
Bank Nifty Review For This Week
We expect,
Bank Nifty will be traded with negative bias below 18710 and it would be
declines towards 18530 – 18350 – 18170. Other hand above 18710 Bank Nifty will
be traded with positive bias and it would be tries to touch 18890 – 19070 -
19250. Bank Nifty has 1st Sup. at 18620
– 18530 & 2nd Sup. at 18440 – 18350 & 3rd Sup. at 18260 –
18170 and Bank Nifty find 1st Res. at 18800 – 18890 & 2nd
Res. at 18980 – 19070 & 3rd Res. at 19160 - 19250.
Positional
Trading Strategy:
[1] Bank Nifty looks negative below 18710 with support
18890 & resistance are 18620 – 18530 / 18440 – 18350 / 18260
– 18170.
[2] Bank Nifty looks positive above 18710 with support
18530 & resistance are 18800 – 18890 / 18980– 19070/ 19160
– 19250.
BANK NIFTY
:: OP = 18998.30 , HI = 19158.00 , LO = 18551.30 , CL = 18690.40.
Disclaimer:: This view is only for education
purpose. We don’t recommend any buy or sell. [Strictly restricts for paper
exercise only]
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