Weekly Review For Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week “ Nifty will be traded with negative bias below 9350 and it would be declines towards 9260 – 9170 – 9080. Other hand above 9350 Nifty will be traded with positive bias and it would be tries to touch 9440 – 9530 - 9620. “ Suggested Positional Trading Strategy   [1]  Nifty looks negative below 9310 with support 9400 & resistance are 9260 –9220 / 9170 – 9130 / 9080 – 9040.   [2]  Nifty looks positive above 9310 with support 9220 & resistance are 9350 – 9400 / 9440 – 9490 / 9530 – 9580.

               

Nifty opened positive and traded expected. In first half Nifty registered new high of 9377.10 but failed to sustain at higher level. Nifty traded in narrow range and registered low of 9269.90 in second half. Nifty lost 18 points ( - 0. 20 % ) and closed in red.                                                                                                                                                             

                                                                                                                                                      

                                                   

                                Nifty Review For This Week

We expect, Nifty will be traded with negative bias below 9260 and it would be declines towards 9170 – 9080 – 8990. Other hand above 9260 Nifty will be traded with positive bias and it would be tries to touch 9350 – 9440 - 9530. Nifty have 1st Sup. at 9220 – 9170 & 2nd Sup. at 9130 – 9080 & 3rd Sup. at 9040 – 8990 and Nifty find 1st Res. at 9310 – 9350 & 2nd Res. at 9400 – 9440 & 3rd Res. at 9490 – 9530.

Positional Strategy:

[1]  Nifty looks negative below 9260 with support 9350 & resistance are 9220 –9170 / 9130 – 9080 / 9040 – 8990. 

[2]  Nifty looks positive above 9260 with support 9170 & resistance are 9310 – 9350 / 9400 – 9440 / 9490 – 9530.

NIFTY :: OP = 9339.85 , HI = 9377.10 , LO = 9269.90 , CL = 9285.30.

Ø  Bank Nifty Review

We said last week “ Bank Nifty will be traded with negative bias below 22310 and it would be declines towards 22130 – 21950 – 21770. Other hand above 22310 Bank Nifty will be traded with positive bias and it would be tries to touch 22490 – 22670 - 22850. “  Suggested Positional Trading Strategy:   [1]  Bank Nifty looks negative below 22310 with support 22490 & resistance are 22220 – 22130 / 22040 – 21950 / 21860 – 21770.   [2]  Bank Nifty looks positive above 22310 with support 22130 & resistance are 22400 – 22490 / 22580– 22670 / 22760 – 22850.                                                                 

Bank Nifty opened positive and traded expected. In first half Bank Nifty registered low of 22240.05 than turned up towards our buying level and gave smart rally towards 22900. Bank Nifty achieved our all three upside target and registered new high of 22853.55 in second half. Bank Nifty gained 246 points (+ 1.10 % ) and closed in green.

                                                                           

                                Bank Nifty Review For This Week

We expect, “  Bank Nifty will be traded with negative bias below 22580 and it would be declines towards 22400 – 22220 – 22040. Other hand above 22580 Bank Nifty will be traded with positive bias and it would be tries to touch 22760 – 22940 - 23120.  Bank Nifty has 1st Sup. at 22490 – 22400 & 2nd Sup. at 22310 – 22220 & 3rd Sup. at 22130 – 22040 and Bank Nifty find 1st Res. at 22670 – 22760 & 2nd Res. at 22850 – 22940 & 3rd Res. at 23030 - 23120.

Positional Trading Strategy:

[1]  Bank Nifty looks negative below 22580 with support 22760 & resistance are 22490 – 22400 / 22310 – 22220 / 22130 – 22040.   

 [2]  Bank Nifty looks positive above 22580 with support 22400 & resistance are 22670 – 22760 / 22850– 22940 / 23030 – 23120.

BANK NIFTY :: OP = 22412.55 , HI = 22853.55 , LO = 22240.05 , CL = 22604.95.

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]