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 8590 with support 8680 & resistance are 8540 – 8500 / 8450 – 8410 / 8360 – 8320. [2] Nifty looks positive above 8590 with support 8500 & resistance are 8630 – 8680 / 8720 – 8770 / 8810 – 8860.
Nifty
opened positive and traded expected. In first half Nifty registered low of 8506.15
and achieved our 1st down side target. After that Nifty turned up
towards our buying level and then achieved our 1st upside target and
registered high of 8727 in second half. Nifty gained 109 points ( + 1. 25 % )
and closed in green.
Nifty Review For This Week
We expect,
Nifty will be traded with negative bias below 8720 and it would be
declines towards 8630 – 8540 – 8450. Other hand above 8720 Nifty will be
traded with positive bias and it would be tries to touch 8810 – 8900 - 8990. Nifty have 1st Sup. at 8680 – 8630
& 2nd Sup. at 8590 – 8540 & 3rd Sup. at 8500 – 8450 and
Nifty find 1st Res. at 8770 – 8810 & 2nd Res. at 8860 – 8900 &
3rd Res. at 8950 – 8990.
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 8720 with support 8810
& resistance are 8680 – 8630 / 8590 – 8540 / 8500 – 8450.
[2] Nifty looks positive above 8720 with support 8630
& resistance are 8770 – 8810 / 8860 – 8900 / 8950 – 8990.
NIFTY ::
OP = 8612.95 , HI = 8727.00 , LO = 8506.15 , CL = 8693.05.
Ø
Bank Nifty Review
We said
last week “ Bank Nifty will be traded
with negative bias below 19070 and it would be declines towards 18890 –
18710 – 18530. Other hand above 19070 Bank Nifty will be traded with
positive bias and it would be tries to touch 19250 – 19430 - 19610. “ Suggested
Positional Trading Strategy: [1] Bank Nifty looks negative below 19070 with
support 19250 & resistance are 18980 – 18890 / 18800 – 18710
/ 18620 – 18530. [2]
Bank Nifty looks positive above 19070 with support 18890 &
resistance are 19160 – 19250 / 19340– 19430/ 19520 – 19610.
Bank Nifty
opened positive and traded expected. In first half Bank Nifty registered low of
19002.45 than turned back towards our buying level and gave smart rally above 19700.
Bank Nifty achieved our all three upside targets and registered high of 19744
in second half. Bank Nifty gained massive 690 points ( + 3.50 % ) and closed in
green.
Bank Nifty Review For This Week
We expect,
Bank Nifty will be traded with negative bias below 19700 and it would be
declines towards 19520 – 19340 – 19160. Other hand above 19700 Bank
Nifty will be traded with positive bias and it would be tries to touch 19880 – 20060
- 20240. Bank Nifty has 1st Sup. at 19610
– 19520 & 2nd Sup. at 19430 – 19340 & 3rd Sup. at 19250 –
19160 and Bank Nifty find 1st Res. at 19790 – 19880 & 2nd
Res. at 19970 – 20060 & 3rd Res. at 20150 - 20240.
Positional
Trading Strategy:
[1] Bank Nifty looks negative below 19700 with
support 19880 & resistance are 19610 – 19520 / 19430 – 19340
/ 19250 – 19160.
[2] Bank Nifty looks positive above 19700 with
support 19520 & resistance are 19790 – 19880 / 19970– 20060/ 20150
– 20240.
BANK NIFTY
:: OP = 19136.30 , HI = 19744.00 , LO = 19002.45 , CL = 19710.90.
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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