Weekly Review For Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week “ Nifty will be traded with negative bias below 8180 and it would be declines towards 8090 – 8000 – 7910. Other hand above 8180 Nifty will be traded with positive bias and it would be tries to touch 8270 – 8360 - 8450. “ Suggested Positional Trading Strategy :   [1]  Nifty looks negative below 8180 with support 8270 & resistance are 8140 – 8090 / 8050 – 8000 / 7960 – 7910.   [2]  Nifty looks positive above 8180 with support 8090 & resistance are 8230 – 8270 / 8320 – 8360 / 8410 – 8450.

               

Nifty opened positive and traded expected. In first half Nifty registered low of 8133.80 than turned up towards our buying level and gave rally above 8300. Nifty registered high of 8306.85 and achieved our 1^st upside target in second half. Nifty gained 58 points ( + 0. 70 % ) 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 = 8210.10 , HI = 8306.85 , LO = 8133.80 , CL = 8243.80.

  

                               

Ø  Bank Nifty Review

We said last week “  Bank Nifty will be traded with negative bias below 18170 and it would be declines towards 17990 – 17810 – 17630. Other hand above 18170 Bank Nifty will be traded with positive bias and it would be tries to touch 18350 – 18530 - 18710. “  Suggested Positional Trading Strategy:   [1]  Bank Nifty looks negative below 18170 with support 18350 & resistance are 18080 – 17990 / 17900 – 17810 / 17720 – 17630.   [2]  Bank Nifty looks positive above 18170 with support 17990 & resistance are 18260 – 18350 / 18440– 18530/ 18620 – 18710.                                                                  

Bank Nifty opened positive and traded expected. In first half Bank Nifty registered low of 17830.95 and achieved our 2^nd down side targets. After that Bank Nifty turned up towards our buying level and gave rally above 18300. Bank Nifty achieved our 1^st upside target and registered high of 18325.50 in second half. Bank Nifty gained 86 points ( + 0.47 % ) and closed in green.

                                                                          

                                Bank Nifty Review For This Week

We expect, 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.  Bank Nifty has 1st Sup. at 18170 – 18080 & 2nd Sup. at 17990 – 17900 & 3rd Sup. at 17810 – 17720 and Bank Nifty find 1st Res. at 18350 – 18440 & 2nd Res. at 18530 – 18620 & 3rd Res. at 18710 - 18800.

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 :: OP = 18242.30 , HI = 18325.50 , LO = 17830.95 , CL = 18264.00.

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]