Weekly Review For Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week “ Nifty will be traded with negative bias below 8810 and it would be declines towards 8720 – 8630 – 8540. Other hand above 8810 Nifty will be traded with positive bias and it would be tries to touch 8900 – 8990 - 9080. “ Suggested Positional Trading Strategy :   [1]  Nifty looks negative below 8810 with support 8900 & resistance are 8770 – 8720 / 8680 – 8630 / 8590 – 8540.   [2]  Nifty looks positive above 8810 with support 8720 & resistance are 8860 – 8900 / 8950 – 8990 / 9040 – 9080.

               

Nifty opened flat and traded expected. In first half Nifty registered low of 8757.30 than turned up towards our buying level and then rallied towards 8900.  Nifty registered high of 8893.35 and achieved our 1^st upside target in second half. Nifty gained 51 points ( + 0. 57 % ) and closed in green.                                                                       

                                 Nifty Review For This Week

We expect same, Nifty will be traded with negative bias below 8810 and it would be declines towards 8720 – 8630 – 8540. Other hand above 8810 Nifty will be traded with positive bias and it would be tries to touch 8900 – 8990 - 9080.  Nifty have 1st Sup. at 8770 – 8720 & 2nd Sup. at 8680 – 8630 & 3rd Sup. at 8590 – 8540 and Nifty find 1st Res. at 8860 – 8900 & 2nd Res. at 8950 –8990 & 3rd Res. at 9040 – 9080.

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 8810 with support 8900 & resistance are 8770 – 8720 / 8680 – 8630 / 8590 – 8540. 

               

[2]  Nifty looks positive above 8810 with support 8720 & resistance are 8860 – 8900 / 8950 – 8990 / 9040 – 9080.

NIFTY :: OP = 8788.45 , HI = 8893.35 , LO = 8757.30 , CL = 8831.55. 

                                      

Ø  Bank Nifty Review

We said last week “  Bank Nifty will be traded with negative bias below 19880 and it would be declines towards 19700 – 19520 – 19340. Other hand above 19880 Bank Nifty will be traded with positive bias and it would be tries to touch 20060 – 20240 - 20420. “  Suggested Positional Trading Strategy:   [1]  Bank Nifty looks negative below 19880 with support 20060 & resistance are 19790 – 19700 / 19610 – 19520 / 19430 – 19340.   [2]  Bank Nifty looks positive above 19880 with support 19700 & resistance are 19970 – 20060 / 20150– 20240/ 20330 – 20420.

Bank Nifty opened positive and traded expected. In first half Bank Nifty registered low of 19749.95 than turned up towards our buying level and then gave rally above 20200. Bank Nifty achieved our 2^nd upside targets and registered high of 20264.80 but failed to sustain gains in second half. Bank Nifty gained 46 points ( + 0.23 % ) and closed in green.        

                                                                   

                                Bank Nifty Review For This Week

We expect same, Bank Nifty will be traded with negative bias below 19880 and it would be declines towards 19700 – 19520 – 19340. Other hand above 19880 Bank Nifty will be traded with positive bias and it would be tries to touch 20060 – 20240 - 20420.  Bank Nifty has 1st Sup. at 19790 – 19700 & 2nd Sup. at 19610 – 19520 & 3rd Sup. at 19430 – 19340 and Bank Nifty find 1st Res. at 19970 – 20060 & 2nd Res. at 20150 – 20240 & 3rd Res. at 20330 - 20420.

Positional Trading Strategy:

[1]  Bank Nifty looks negative below 19880 with support 20060 & resistance are 19790 – 19700 / 19610 – 19520 / 19430 – 19340. 

[2]  Bank Nifty looks positive above 19880 with support 19700 & resistance are 19970 – 20060 / 20150– 20240/ 20330 – 20420.

BANK NIFTY :: OP = 19882.20 , HI = 20264.80 , LO = 19749.95 , CL = 19901.80.

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