Weekly Review For Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week “ 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. “ Suggested Positional Trading 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 opened positive and traded expected. In first half Nifty registered low of 8715.00 than turned up towards our buying level and gave rally above 8800. Nifty registered high of 8822.10 and achieved our 1^st upside target in second half. Nifty gained 52 points ( + 0. 59 % ) and closed in green.                                                                                                                                             

                                                                                                                                                                                                                                   

                              Nifty Review For This Week

We expect, 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.  Nifty have 1st Sup. at 8770 – 8720 & 2nd Sup. at 8680 – 8630 & 3rd Sup. at 8590 – 8540 and Nifty find 1st Res. at 8860 – 8900 & 2nd Res. at 8950 – 8990 & 3rd Res. at 9040 – 9080.

Positional 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 :: OP = 8785.45 , HI = 8822.10 , LO = 8715.00 , CL = 8793.55.

                               

Ø  Bank Nifty Review

We said last week “  Bank Nifty will be traded with negative bias below 20150 and it would be declines towards 19970 – 19790 – 19610. Other hand above 20150 Bank Nifty will be traded with positive bias and it would be tries to touch 20330 – 20510 - 20690. “  Suggested Positional Trading Strategy:   [1]  Bank Nifty looks negative below 20150 with support 20330 & resistance are 20060 – 19970 / 19880 – 19790 / 19700 – 19610.   [2]  Bank Nifty looks positive above 20150 with support 19970 & resistance are 20240 – 20330 / 20420– 20510 / 20600 – 20690.                                                                 

Bank Nifty opened positive and traded expected. In first half Bank Nifty registered high of 20452.45 than turned back towards our shorting level and declined towards 20000. Bank Nifty registered low of 20000.35 and achieved our 1^st down side target in second half. Bank Nifty gained  17 points ( + 0.08 % ) and closed in green.

                                                                          

                           Bank Nifty Review For This Week

We expect, Bank Nifty will be traded with negative bias below 20240 and it would be declines towards 20060 – 19880 – 19700. Other hand above 20240 Bank Nifty will be traded with positive bias and it would be tries to touch 20420 – 20600 - 20780.  Bank Nifty has 1st Sup. at 20150 – 20060 & 2nd Sup. at 19970 – 19880 & 3rd Sup. at 19790 – 19700 and Bank Nifty find 1st Res. at 20330 – 20420 & 2nd Res. at 20510 – 20600 & 3rd Res. at 20690 - 20780.

Positional Trading Strategy:

[1]  Bank Nifty looks negative below 20240 with support 20420 & resistance are 20150 – 20060 / 19970 – 19880 / 19790 – 19700. 

[2]  Bank Nifty looks positive above 20240 with support 20060 & resistance are 20330 – 20420 / 20510– 20600 / 20690 – 20700.

BANK NIFTY :: OP = 20307.15 , HI = 20452.45 , LO = 20000.35 , CL = 20213.90.

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]