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 negative and traded expected. In first half Nifty registered high of 8809.55 than turned back & declined sharp below 8600. Nifty registered low of 8555.20 and achieved our all three down side targets in second half. Nifty lost 220 points ( - 2. 52 % ) and closed in red.
Nifty Review For This Week
We expect, 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 = 8807.90 , HI = 8809.55 , LO = 8555.20 , CL = 8611.15.
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 negative and traded expected. In first half Bank Nifty registered high of 19794.15 than turned back and declined sharp towards 19000. Bank Nifty achieved our all three down side targets and registered low of 19059.05 in second half. Bank Nifty lost 616 points ( - 3.24 % ) and closed in red.
Bank Nifty Review For This Week
We expect, Bank Nifty will be traded with negative bias below 19250 and it would be declines towards 19070 – 18890 – 18710. Other hand above 19250 Bank Nifty will be traded with positive bias and it would be tries to touch 19430 – 19610 - 19790. Bank Nifty has 1st Sup. at 19160 – 19070 & 2nd Sup. at 18980 – 18890 & 3rd Sup. at 18800 – 18710 and Bank Nifty find 1st Res. at 19340 – 19430 & 2nd Res. at 19520 – 19610 & 3rd Res. at 19700 - 19790.
Positional Trading Strategy:
[1] Bank Nifty looks negative below 19250 with support 19430 & resistance are 19160 – 19070 / 18980 – 18890 / 18800 – 18710.
[2] Bank Nifty looks positive above 19250 with support 19070 & resistance are 19340 – 19430 / 19520– 19610/ 19700 – 19790.
BANK NIFTY :: OP = 19792.20 , HI = 19794.15 , LO = 19059.05 , CL = 19285.70.
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]
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