Weekly Review For Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week “ Nifty will be traded with negative bias below 8090 and it would be declines towards 8000 – 7910 – 7820. Other hand above 8090 Nifty will be traded with positive bias and it would be tries to touch 8180 – 8270 - 8360. “ Suggested Positional Trading Strategy :   [1]  Nifty looks negative below 8090 with support 8180 & resistance are 8050 – 8000 / 7960 – 7910 / 7870 – 7820.   [2]  Nifty looks positive above 8090 with support 8000 & resistance are 8140 – 8180 / 8230 – 8270 / 8320 – 8360.

               

Nifty opened flat and traded expected. In first half Nifty registered low of 8056.85 than turned up towards our buying level and gave smart rally towards 8300. Nifty achieved our 2^nd upside targets and registered high of 8274.95 in second half. Nifty gained massive 174 points ( + 2. 11 % ) and closed in green.                                                                                                                          

                                                                                                                                                                                                                          

                                  Nifty Review For This Week

We expect, Nifty will be traded with negative bias below 8270 and it would be declines towards 8180 – 8090 – 8000. Other hand above 8270 Nifty will be traded with positive bias and it would be tries to touch 8360 – 8450 - 8540.  Nifty have 1st Sup. at 8230 – 8180 & 2nd Sup. at 8140 – 8090 & 3rd Sup. at 8050 – 8000 and Nifty find 1st Res. at 8320 – 8360 & 2nd Res. at 8410 – 8450 & 3rd Res. at 8500 – 8540.

Positional Strategy:

[1]  Nifty looks negative below 8270 with support 8360 & resistance are 8230 – 8180 / 8140 – 8090 / 8050 – 8000. 

               

[2]  Nifty looks positive above 8270 with support 8180 & resistance are 8320 – 8360 / 8410 – 8450 / 8500 – 8540.

NIFTY :: OP = 8088.75 , HI = 8274.95 , LO = 8056.85 , CL = 8261.75.

                                      

Ø  Bank Nifty Review

We said last week “  Bank Nifty will be traded with negative bias below 18260 and it would be declines towards 18080 – 17900 – 17720. Other hand above 18260 Bank Nifty will be traded with positive bias and it would be tries to touch 18440 – 18620 - 18800. “  Suggested Positional Trading Strategy:   [1]  Bank Nifty looks negative below 18260 with support 18440 & resistance are 18170 – 18080 / 17990 – 17900 / 17810 – 17720.   [2]  Bank Nifty looks positive above 18260 with support 18080 & resistance are 18350 – 18440 / 18530– 18620/ 18710 – 18800.                                                                  

Bank Nifty opened flat and traded expected. In first half Bank Nifty registered low of 17952.60 and achieved our 1^st down side target. After that Bank Nifty turned up towards our buying level and then gave smart rally above 18700. Bank Nifty registered high of 18739.65 and achieved our 2^nd upside targets in second half. Bank Nifty gained massive 448 points ( + 2.39 % ) and closed in green.

        

                                                                   

                                Bank Nifty Review For This Week

We expect, Bank Nifty will be traded with negative bias below 18710 and it would be declines towards 18530 – 18350 – 18170. Other hand above 18710 Bank Nifty will be traded with positive bias and it would be tries to touch 18890 – 19070 - 19250.  Bank Nifty has 1st Sup. at 18620 – 18530 & 2nd Sup. at 18440 – 18350 & 3rd Sup. at 18260 – 18170 and Bank Nifty find 1st Res. at 18800 – 18890 & 2nd Res. at 18980 – 19070 & 3rd Res. at 19160 - 19250.

Positional Trading Strategy:

[1]  Bank Nifty looks negative below 18710 with support 18890 & resistance are 18620 – 18530 / 18440 – 18350 / 18260 – 18170. 

[2]  Bank Nifty looks positive above 18710 with support 18530 & resistance are 18800 – 18890 / 18980– 19070/ 19160 – 19250.

BANK NIFTY :: OP = 18245.00 , HI = 18739.65 , LO = 17952.60 , CL = 18695.80.

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]