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 positive and traded expected. In first half Nifty registered low of 8635.00 than turned up and achieved our 2nd upside targets. Nifty registered high of 8806.95 but faced resistance near 8810 and not succeeded to sustain at that level in second half. Nifty gained 86 points ( + 0. 98 % ) 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.
This is the small & truncated week with holidays on Tuesday & Wednesday, so be cautious and trade carefully. Hence we expect volatility to remain in the market.
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 = 8666.15 , HI = 8806.95 , LO = 8635.00 , CL = 8697.60
Ø Bank Nifty Review
We said last week “ 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. “ Suggested 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 opened positive and traded expected. In first half Bank Nifty gave smart rally & registered high of 19816.50. Bank Nifty faced resistance near 19790 and not succeeded to sustain at higher level, So Bank Nifty turned back and declined sharp towards 19300 and registered low of 19318.00 in second half. Bank Nifty gained 114 points ( + 0.58 % ) 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 / 18980 – 18890.
[2] Bank Nifty looks positive above 19430 with support 19250 & resistance are 19520 – 19610 / 19700– 19790/ 19880 – 19970.
BANK NIFTY :: OP = 19395.55 , HI = 19816.50 , LO = 19318.00 , CL = 19400.10.
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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