Weekly Review For Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week “ 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. “ Suggested Positional Trading 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 opened positive and traded expected. In first half Nifty registered low of 9297.95 than turned up and gave smart rally above 9400. Nifty registered new high of 9450.65 in second half. Nifty gained 115 points ( + 1. 23 % ) and closed in green.                                                                                                                                                         

                                                                                                                                                                                                                          

                                Nifty Review For This Week

We expect, Nifty will be traded with negative bias below 9440 and it would be declines towards 9350 – 9260 – 9170. Other hand above 9440 Nifty will be traded with positive bias and it would be tries to touch 9530 – 9620 - 9710. Nifty have 1st Sup. at 9400 – 9350 & 2nd Sup. at 9310 – 9260 & 3rd Sup. at 9220 – 9170 and Nifty find 1st Res. at 9490 – 9530 & 2nd Res. at 9580 – 9620 & 3rd Res. at 9670 – 9710.

Positional Strategy:

[1]  Nifty looks negative below 9400 with support 9490 & resistance are 9350 –9310 / 9260 – 9220 / 9170 – 9130. 

[2]  Nifty looks positive above 9400 with support 9310 & resistance are 9440 – 9490 / 9530 – 9580 / 9620 – 9670.

NIFTY :: OP = 9311.45 , HI = 9450.65 , LO = 9297.95 , CL = 9400.90.

Ø  Bank Nifty Review

We said last week “ 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. “  Suggested 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 opened positive and traded expected. In first half Bank Nifty registered high of 22977.85 and achieved our 2^nd upside target. Bank Nifty faced strong resistance near 23000 mark and failed to sustain at higher level so it turned back and registered low of 22578 in second half. Bank Nifty gained 66 points (+ 0.29 % ) and closed in green.

                                                                           

                                Bank Nifty Review For This Week

We expect, “  Bank Nifty will be traded with negative bias below 22670 and it would be declines towards 22490 – 22310 – 22130. Other hand above 22670 Bank Nifty will be traded with positive bias and it would be tries to touch 22850 – 23030 - 23210.  Bank Nifty has 1st Sup. at 22580 – 22490 & 2nd Sup. at 22400 – 22310 & 3rd Sup. at 22220 – 22130 and Bank Nifty find 1st Res. at 22760 – 22850 & 2nd Res. at 22940 – 23030 & 3rd Res. at 23120 - 23210.

Positional Trading Strategy:

[1]  Bank Nifty looks negative below 22670 with support 22850 & resistance are 22580 – 22490 / 22400 – 22310 / 22220 – 22130.   

 [2]  Bank Nifty looks positive above 22670 with support 22490 & resistance are 22760 – 22850 / 22940– 23030 / 23120 – 23210.

BANK NIFTY :: OP = 22678.45 , HI = 22977.85 , LO = 22578.00 , CL = 22671.70.

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]