JAY SWAMINARAYAN
We said
last week “ 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. “ Suggested Positional Trading 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
opened positive and traded expected. In first half Nifty registered low of 8712.85
and achieved our 1st down side target. After that Nifty turned up
towards our buying level and gave rally towards 8900. Nifty registered high of
8896.45 and achieved our 1st upside target in second half. Nifty
gained 28 points ( + 0. 31 % ) and closed in green.
Nifty Review
For This Week
We expect
same, 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.
This is the small
& truncated week with holiday on Friday and also F & O expiry in this week,
so be cautious and trade carefully. Hence we expect volatility to remain
in the market.
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 = 8819.80 , HI = 8896.45 , LO = 8712.85 , CL = 8821.70.
Ø
Bank Nifty Review
We said
last week “ 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. “ Suggested
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 – 20780.
Bank Nifty
opened positive and traded expected. In first half Bank Nifty registered low of
20088.20 and achieved our 1st down side target. After that Bank Nifty
turned up towards our buying level and gave rally above 21000. Bank Nifty
registered high of 21042.35 and achieved our all three upside target in second
half. Bank Nifty gained 337 points ( + 1.64 % ) and closed in green.
Bank Nifty
Review For This Week
We expect,
Bank Nifty will be traded with negative bias below 20510 and it would be
declines towards 20330 – 20150 – 19980. Other hand above 20510 Bank
Nifty will be traded with positive bias and it would be tries to touch 20690 –
20870 - 21050. Bank Nifty has 1st Sup.
at 20420 – 20330 & 2nd Sup. at 20240 – 20150 & 3rd Sup.
at 20060 – 19980 and Bank Nifty find 1st Res. at 20600 – 20690
& 2nd Res. at 20780 – 20870 & 3rd Res. at 20960 - 21050.
Positional
Trading Strategy:
[1] Bank Nifty looks negative below 20510 with
support 20690 & resistance are 20420 – 20330 / 20240 – 20150
/ 20060 – 19980.
[2] Bank Nifty looks positive above 20510 with
support 20330 & resistance are 20600 – 20690 / 20780– 20870 /
20960 – 21050.
BANK NIFTY
:: OP = 20273.65 , HI = 21042.35 , LO = 20088.20 , CL = 20551.35.
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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