Weekly Review For Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week “ Nifty will be traded with negative bias below 8360 and it would be declines towards 8270 – 8180 – 8090. Other hand above 8360 Nifty will be traded with positive bias and it would be tries to touch 8450 – 8540 - 8630. “ Suggested Positional Trading Strategy :   [1]  Open short below 8320 with stop loss 8410 for targets 8270 – 8230 / 8180 – 8140 / 8090 – 8050.   [2]  Open long above 8320 with stop loss 8230 for targets  8360 – 8410 / 8450 – 8500 / 8540 – 8590.

               

Nifty opened with gape up and traded expected. In first half Nifty registered low of 8407.05 than turned up and gave smart rally towards 8600. Nifty registered high of 8594.80 near our 3^rd target in second half. Nifty gained massive 218 points ( + 2. 62  % ) and closed in green.                                                   

                                Nifty Review For This Week

We expect, 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.

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 :: OP = 8413.35 , HI = 8594.80 , LO = 8407.05 , CL = 8541.40. 

                                             

Ø  Bank Nifty Review

We said last week “ Bank Nifty will be traded with negative bias below 17990 and it would be declines towards 17810 – 17630 – 17450. Other hand above 17990 Bank Nifty will be traded with positive bias and it would be tries to touch 18170 – 18350 - 18530. “ Suggested Positional Trading Strategy:   [1]  Open short below 17990 with stop loss 18170 for targets 17900 – 17810 / 17720 – 17630 / 17540 – 17450.   [2]  Open long above 17990 with stop loss 17810 for targets  18080 – 18170 / 18260– 18350/ 18440 – 18530.

Bank Nifty opened with gape up and traded expected. In first half Bank Nifty registered low of 18243.30 than turned up and gave smart rally above 19000.  Bank Nifty registered high of 19016.10 in second half. Bank Nifty gained massive 937 points ( + 5.20 % ) and closed in green.        

                                                                   

                               Bank Nifty Review For This Week

We expect, 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.  Bank Nifty has 1st Sup. at 18890 – 18800 & 2nd Sup. at 18710 – 18620 & 3rd Sup. at 18530 – 18440 and Bank Nifty find 1st Res. at 19070 – 19160 & 2nd Res. at 19250 – 19340 & 3rd Res. at 19430 - 19520.

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 :: OP = 18268.15 , HI = 19016.10 , LO = 18243.30 , CL = 18953.65.