Weekly Review For Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week “ Nifty will be traded with negative bias below 8630 and it would be declines towards 8540 – 8450 – 8360. Other hand above 8630 Nifty will be traded with positive bias and it would be tries to touch 8720 – 8810 - 8900. “ Suggested Positional Trading Strategy :   [1]  Nifty looks negative below 8630 with support 8720 & resistance are 8590 – 8540 / 8500 – 8450 / 8410 – 8360.   [2]  Nifty looks positive above 8630 with support 8540 & resistance are 8680 – 8720 / 8770 – 8810 / 8860 – 8900.

               

Nifty opened negative and traded expected. In first half Nifty registered low of 8600.45 than turned up and tried to recover the loss. Nifty registered high of 8696.60 and traded range bound in second half. Nifty lost 5 points ( - 0. 05 % ) and closed in red.                                                                  

                                Nifty Review For This Week

We expect same, Nifty will be traded with negative bias below 8630 and it would be declines towards 8540 – 8450 – 8360. Other hand above 8630 Nifty will be traded with positive bias and it would be tries to touch 8720 – 8810 - 8900.  Nifty have 1st Sup. at 8590 – 8540 & 2nd Sup. at 8500 – 8450 & 3rd Sup. at 8410 – 8360 and Nifty find 1st Res. at 8680 – 8720 & 2nd Res. at 8770 –8810 & 3rd Res. at 8860 – 8900.

Positional Strategy:

[1]  Nifty looks negative below 8630 with support 8720 & resistance are 8590 – 8540 / 8500 – 8450 / 8410 – 8360. 

               

[2]  Nifty looks positive above 8630 with support 8540 & resistance are 8680 – 8720 / 8770 – 8810 / 8860 – 8900.

NIFTY :: OP = 8712.85 , HI = 8728.35 , LO = 8540.05 , CL = 8672.15. 

                                      

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]  Bank Nifty looks negative below 18980 with support 19160 & resistance are 18890 – 18800 / 18710 – 18620 / 18530 – 18440.   [2]  Bank Nifty looks positive above 18980 with support 18800 & resistance are 19070 – 19160 / 19250– 19340/ 19430 – 19520.

Bank Nifty opened positive and traded expected. In first half Bank Nifty registered low of 18839.40 than turned up towards our buying level and then gave smart rally towards 19500. Bank Nifty achieved our 2^nd upside targets and registered high of 19457.40 in second half. Bank Nifty gained massive 451 points ( + 2.37 % ) and closed in green.        

                                                                    

                              Bank Nifty Review For This Week

We expect, Bank Nifty will be traded with negative bias below 19430 and it would be declines towards 19250 – 19070 – 18890. Other hand above 19430 Bank Nifty will be traded with positive bias and it would be tries to touch 19610 – 19790 - 19970.  Bank Nifty has 1st Sup. at 19340 – 19250 & 2nd Sup. at 19160 – 19070 & 3rd Sup. at 18980 – 18890 and Bank Nifty find 1st Res. at 19520 – 19610 & 2nd Res. at 19700 – 19790 & 3rd Res. at 19880 - 19970.

Positional Trading Strategy:

[1]  Bank Nifty looks negative below 19430 with support 19610 & resistance are 19340 – 19250 / 19160 – 19070 / 18890 – 18980. 

[2]  Bank Nifty looks positive above 19430 with support 19250 & resistance are 19520 – 19610 / 19700– 19790/ 19880 – 19970.

BANK NIFTY :: OP = 19029.10 , HI = 19457.40 , LO = 18839.40 , CL = 19414.70.

Disclaimer:: This view is only for education purpose. We don’t recommend any buy or sell. [Strictly restricts for paper exercise only]