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BANK NIFTY

This week Bank Nifty spot went up by 2255 points , before finally ending the week with a gain of 1762 points compared to last weekly closing.

As per levels given for the previous week Bank Nifty Spot needed to sustain and close above 30285 to confirm uptrend and Bank Nifty spot needed to sustain and close below 29625 to confirm downtrend for the week. Bank Nifty made a high of 29835.50 and made a low of 28784.65 for the week. 


Had mentioned in previous weekly post that Bank Nifty needs to sustain above 29765 to test 30100 - 30185 initially and above it further till 30475 - 30780 and Bank Nifty needs to sustain below 29135 to test 28800 - 28715 initially and below it further till 28425 - 28110 , and Bank Nifty triggered our weekly long trade and gave 1900+ points exceeding our weekly long targets.  


For the coming week :

Those who are looking to enter fresh longs should wait for Bank Nifty to sustain / close above 31750 and then enter for a initial target of 32320 - 32465 and look to hold further only on sustaining or getting a close above 32465 for the next targets of 32955 - 33495. 

&

Those who are looking to enter fresh short should wait for Bank Nifty to sustain / close below 30675 and then enter for a initial target of 30105 - 29960 and look to hold further only on sustaining or getting a close below 29960 for the next targets of 29470 - 28930.


For the month of May , longs will be confirmed in Bank Nifty with a consecutive close above 30505 for a initial target of 31285 - 31480 and sustaining / closing above it we can see a further move till 32155 - 32890 . Similarly Bank Nifty shorts will be confirmed with a consecutive close below 29025 for a initial target of 28245 - 28050 and sustaining / closing below it we can see a further move till 27380 - 26640.


On the upside Bank Nifty has immediate resistance  near 31285 - 31480 and a strong close above it is required for the next upmove towards 32000+ levels . 

On the downside Bank Nifty has immediate strong support near 30340 - 30220 which needs to hold incase of a correction for the upmove to resume.


Bank Nifty Spot Levels for the week are

Long above 31545 , Tgt 31750 - 31920 - 32085

IF Bank Nifty spot manages to get a close / sustain above 32320 then 

long again for 32465 - 32955 - 33495

Short below 30880 , Tgt 30675 - 30505 - 30340

IF Bank Nifty spot manages to get a close / sustain below 30105 then 

short again for 29960 - 29470 - 28930



P.S. Always wait for the yellow highlighted levels to be crossed after taking a long/short position for confirmation of the trade . Once the highlighted levels are crossed and the next target is achieved move your Stoploss to the highlighted levels and continue trailing it further .

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.
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NIFTY

This week Nifty went up by 634 points , before finally ending the week with a gain of 437 points compared to last weekly closing. 

As per levels given for the previous week Nifty Spot needed to sustain and close above 11510 to confirm uptrend and Nifty spot needed to sustain and close below 11305 to confirm downtrend for the week. Nifty made a high of 12041.15 and made a low of 11591.70

Had mentioned in previous weekly post that Nifty needs to sustain above 11510 to test 11615 - 11640 initially and closing above it can go further till 11735 - 11835 and Nifty needs to sustain below 11305 to test 11200 - 11175 initially and closing below it can go further till 11080 - 10980, and we saw Nifty confirm our long trade and complete all our long targets and exceeding it giving 500 points . 

For the coming week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 12010 and then enter for a initial target of 12180 - 12220 and look to hold further only on sustaining or getting a close above 12220 for the next targets of 12370 - 12530. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11680 and then enter for a initial target of 11510 - 11470 and look to hold further only on sustaining or getting a close below 11470 for the next targets of 11320 - 11160. 


For the month of May , longs will get confirmed in Nifty with a consecutive close above 11945 for a initial target of 12155 - 12210 and sustaining / closing above it we can see a further move till 12390 - 12585 .  Similarly shorts will get confirmed with a consecutive close below 11550 for  a initial target of 11340 - 11290 and sustaining / closing below it we can see a further move till 11110 - 10910 . 

Nifty now has immediate resistance  at 11870 - 11945 and it needs to break and close above these levels for the next upmove  .   

On the downside Nifty has immediate support near 11630 - 11550 and it needs to hold this level  in the coming week on a correction to expect a bounce . 


Nifty Spot Levels for the week are

Long above 11945 , Tgt  12010 - 12055 - 12105

IF Nifty spot manages to get a close / sustain above 12180 then ,

long again for 12220 - 12370 - 12530

Short below 11745 , Tgt 11680 - 11630 - 11580

IF Nifty spot manages to get a close / sustain below 11510 then, 

short again for 11470 - 11320 - 11160


P.S. Always wait for the yellow highlighted levels to be crossed after taking a long/short position for confirmation of the trade . Once the highlighted levels are crossed and the next target is achieved move your Stoploss to the highlighted levels and keep trailing your stoploss .

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.

Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.
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BANK NIFTY
In the previous session Bank Nifty spot opened at 30962.80, made a new lifetime high of 31705.00, it made a low of 30292.35 ,  before closing at 30409.10

Had mentioned that long trade will get triggered for the day on sustaining above 30725 and short trade will get triggered for the day on sustaining below 30330. Bank Nifty triggered our long trade with a gap up and completed all our day targets and exceeded it by 350+ points. 



For the coming week :

Those who are looking to enter fresh longs should wait for Bank Nifty to sustain / close above 29765 and then enter for a initial target of 30100 - 30185 and look to hold further only on sustaining or getting a close above 30185 for the next targets of 30475 - 30780. 

&

Those who are looking to enter fresh short should wait for Bank Nifty to sustain / close below 29135 and then enter for a initial target of 28800 - 28715 and look to hold further only on sustaining or getting a close below 28715 for the next targets of 28425 - 28110.

Bank Nifty triggered our weekly long trade and completed all targets and exceeded it with a high of 31705 .






Had mentioned in the previous week " Bank Nifty has its immediate support zone near 28885 - 28555 and it needs to hold these levels for a bounce in the coming sessions." , and Bank Nifty made a low of 28525.45 and held its support on closing and bounced back strongly with the exit polls giving a majority to the ruling party. 

Bank Nifty had closed above its immediate resistance of 30220 - 30505 on Wednesday and completed its next targets of 31280 - 31480 . 


For the month of May , longs will be confirmed in Bank Nifty with a consecutive close above 30505 for a initial target of 31285 - 31480 and sustaining / closing above it we can see a further move till 32155 - 32890 . Similarly Bank Nifty shorts will be confirmed with a consecutive close below 29025 for a initial target of 28245 - 28050 and sustaining / closing below it we can see a further move till 27380 - 26640. 


Bank Nifty failed to give a consecutive close above 30505 today after closing above it on Wednesday to confirm our monthly long trade. 

Now with the major domestic event over , the focus will be back to earnings and growth again to find fresh triggers to move the markets.

Now in the coming session Bank Nifty needs to break and sustain above 30610 to test 30825 - 30875 initially and sustaining above it we can see a further upmove till 31060 - 31260. Similarly breaking and sustaining below 30210 we can see a test of 29995 - 29945 initially and sustaining below it we can see a further correction till 29760 - 29560



Bank Nifty Spot Levels for the day are

Long above 30610 for 30735 - 30875 - 31260 , SL 30470

Short below 30210 for 30085 - 29945 - 29560 , SL 30350


If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.
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NIFTY
In the previous session Nifty spot opened at 11901.30, made a new lifetime high of 12041.15 , it made a low of 11614.50,  before closing at 11657.05. 

Had mentioned that long trade will get triggered for the day on sustaining above 11800 and short trade will get triggered for the day on sustaining below 11675. Nifty triggered our long trade at opening with a big gap up and completed all our day targets with a high of 12041.15 crossing the psychological 12000 mark but then corrected on the back of profit booking after that. 




For the coming week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11510 and then enter for a initial target of 11615 - 11640 and look to hold further only on sustaining or getting a close above 11640 for the next targets of 11735 - 11835. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11305 and then enter for a initial target of 11200 - 11175 and look to hold further only on sustaining or getting a close below 11175 for the next targets of 11080 - 10980.

Nifty had triggered our weekly long trade with a huge gap up on Monday and completed all our targets of 11735 - 11835 and extended it by a further 200 points on the confirmation that the ruling government is returning to power . 



As mentioned last week " Nifty now has immediate support at 11135 - 11120 and it needs to hold these levels on closing basis for a bounce to come " , and Nifty held these levels on closing basis with a close of 11157 after a low of 11108.30 and bounced back by nearly 950+ points on the back of the NaMo wave .

As mentioned in the previous post " Nifty has its immediate resistance now at 11870 - 11945 and it needs to break above this zone and give a strong close above it for a upmove above the psychological 12000 mark and towards 12400 - 12800." , and today we saw Nifty cross 12000 levels intraday but get sold off on the back of profit booking and failing to give a close above the resistance zone of 11870 - 11945.

For the month of May , longs will get confirmed in Nifty with a consecutive close above 11945 for a initial target of 12155 - 12210 and sustaining / closing above it we can see a further move till 12390 - 12585 .  Similarly shorts will get confirmed with a consecutive close below 11550 for  a initial target of 11340 - 11290 and sustaining / closing below it we can see a further move till 11110 - 10910 .

Nifty had confirmed our monthly shorts earlier below 11550 and tested our next target zone of 11110 - 10910 with a low of 11108.30 . Had already mentioned in the previous week that shorts should be booked as the markers had fallen for 9 consecutive sessions and a bounce was due . Nifty bounced back sharply by nearly 950 points and also crossed our resistance zone of 11870  - 11945 but failed to close above it due to profit booking . 

Now that the major domestic event is over and with the vix cooling off ,  the market will again be getting back to watching earnings and growth for next triggers. 


Now in the coming session Nifty needs to break and sustain above 11720 to test 11795 - 11805 initially and sustaining above it we can see a further upmove till 11860 - 11925. Similarly breaking and sustaining below 11595 we can see a test of 11525 - 11510 initially and breaking and sustaining below it we can see a further correction till 11455 - 11390


Nifty Spot Levels for the day are

Long above 11720 for 11760 - 11805 - 11925 , SL 11675

Short below 11595 for 11555 - 11510 - 11390 , SL 11640


If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.
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BANK NIFTY
In the previous session Bank Nifty spot opened at 30410.65, made a low of 30268.60, it made a high of 30675.10 ,  before closing at 30526.80

Had mentioned that long trade will get triggered for the day on sustaining above 30510 and short trade will get triggered for the day on sustaining below 30110. Bank Nifty triggered our long trade and did just 1 target. 




For the coming week :

Those who are looking to enter fresh longs should wait for Bank Nifty to sustain / close above 29765 and then enter for a initial target of 30100 - 30185 and look to hold further only on sustaining or getting a close above 30185 for the next targets of 30475 - 30780. 

&

Those who are looking to enter fresh short should wait for Bank Nifty to sustain / close below 29135 and then enter for a initial target of 28800 - 28715 and look to hold further only on sustaining or getting a close below 28715 for the next targets of 28425 - 28110.

Bank Nifty triggered our weekly long trade and completed all targets with a high of 30926.70 .






Had mentioned in the previous week " Bank Nifty has its immediate support zone near 28885 - 28555 and it needs to hold these levels for a bounce in the coming sessions." , and Bank Nifty made a low of 28525.45 and held its support on closing and bounced back strongly with the exit polls giving a majority to the ruling party. 

On the upside Bank Nifty has immediate resistance near 30220 - 30505 and it needs to give a strong close above it for the bounce to extend towards 31280 - 31480 levels


For the month of May , longs will be confirmed in Bank Nifty with a consecutive close above 30505 for a initial target of 31285 - 31480 and sustaining / closing above it we can see a further move till 32155 - 32890 . Similarly Bank Nifty shorts will be confirmed with a consecutive close below 29025 for a initial target of 28245 - 28050 and sustaining / closing below it we can see a further move till 27380 - 26640. 


Bank Nifty had confirmed our monthly short trade and was holding stronger than Nifty and took our trailing stoploss. 


The election results will be out today and the markets can get volatile and traders can get whipsawed on both sides . Also its weekly expiry so its better to wait on the sidelines for a day and let things settle down .

Now in the coming session Bank Nifty needs to break and sustain above 30725 to test 30935 - 30990 initially and sustaining above it we can see a further upmove till 31170 - 31365. Similarly breaking and sustaining below 30330 we can see a test of 30120 - 30065 initially and sustaining below it we can see a further correction till 29885 - 29685



Bank Nifty Spot Levels for the day are

Long above 30725 for 30850 - 30990 - 31365 , SL 30585

Short below 30330 for 30205 - 30065 - 29685 , SL 30465


If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.
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NIFTY
In the previous session Nifty spot opened at a new lifetime high of 11727.95, made a low of 11682.40 , it made a high of 11784.80,  before closing at 11737.90. 

Had mentioned that long trade will get triggered for the day on sustaining above 11775 and short trade will get triggered for the day on sustaining below 11645. Nifty triggered our long trade but did not sustain and traded mostly sideways between our long and short trigger levels.




For the coming week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11510 and then enter for a initial target of 11615 - 11640 and look to hold further only on sustaining or getting a close above 11640 for the next targets of 11735 - 11835. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11305 and then enter for a initial target of 11200 - 11175 and look to hold further only on sustaining or getting a close below 11175 for the next targets of 11080 - 10980.

Nifty had triggered our weekly long trade with a huge gap up on Monday and completed all our targets of 11735 - 11835 and made a high of 11883.55 .



As mentioned last week " Nifty now has immediate support at 11135 - 11120 and it needs to hold these levels on closing basis for a bounce to come " , and Nifty held these levels on closing basis with a close of 11157 after a low of 11108.30 and bounced back by nearly 850+ points on the back of the exit polls predicting a clear majority for the ruling party.

Nifty has its immediate resistance now at 11870 - 11945 and it needs to break above this zone and give a strong close above it for a upmove above the psychological 12000 mark and towards 12400 - 12800.

For the month of May , longs will get confirmed in Nifty with a consecutive close above 11945 for a initial target of 12155 - 12210 and sustaining / closing above it we can see a further move till 12390 - 12585 .  Similarly shorts will get confirmed with a consecutive close below 11550 for  a initial target of 11340 - 11290 and sustaining / closing below it we can see a further move till 11110 - 10910 .

Nifty had confirmed our monthly shorts earlier below 11550 and tested our next target zone of 11110 - 10910 with a low of 11108.30 . Had already mentioned in the previous week that shorts should be booked as the markers had fallen for 9 consecutive sessions and a bounce was due . Nifty bounced back sharply especially on the back of the exit polls giving a clear majority to the ruling government. Now Nifty has immediate resistance near 11870 - 11945 which may be crossed once the final results are out.

The election results will be out today and the markets can get volatile and traders can get whipsawed on both sides . Also its weekly expiry so its better to wait on the sidelines for a day and let things settle down .



Now in the coming session Nifty needs to break and sustain above 11800 to test 11865 - 11885 initially and sustaining above it we can see a further upmove till 11940 - 12000. Similarly breaking and sustaining below 11675 we can see a test of 11610 - 11595 initially and breaking and sustaining below it we can see a further correction till 11535 - 11475


Nifty Spot Levels for the day are

Long above 11800 for 11840 - 11885 - 12000 , SL 11755

Short below 11675 for 11635 - 11595 - 11475 , SL 11720


If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.
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BANK NIFTY
In the previous session Bank Nifty spot opened at 30862.10, made a new lifetime high of 30926.70, it made a low of 30265.10 ,  before closing at 30308.40




For the coming week :

Those who are looking to enter fresh longs should wait for Bank Nifty to sustain / close above 29765 and then enter for a initial target of 30100 - 30185 and look to hold further only on sustaining or getting a close above 30185 for the next targets of 30475 - 30780. 

&

Those who are looking to enter fresh short should wait for Bank Nifty to sustain / close below 29135 and then enter for a initial target of 28800 - 28715 and look to hold further only on sustaining or getting a close below 28715 for the next targets of 28425 - 28110.

Bank Nifty triggered our weekly long trade and completed all targets with a high of 30926.70 .






Had mentioned in the previous week " Bank Nifty has its immediate support zone near 28885 - 28555 and it needs to hold these levels for a bounce in the coming sessions." , and Bank Nifty made a low of 28525.45 and held its support on closing and bounced back strongly with the exit polls giving a majority to the ruling party. 

On the upside Bank Nifty has immediate resistance near 30220 - 30505 and it needs to give a strong close above it for the bounce to extend towards 31280 - 31480 levels


For the month of May , longs will be confirmed in Bank Nifty with a consecutive close above 30505 for a initial target of 31285 - 31480 and sustaining / closing above it we can see a further move till 32155 - 32890 . Similarly Bank Nifty shorts will be confirmed with a consecutive close below 29025 for a initial target of 28245 - 28050 and sustaining / closing below it we can see a further move till 27380 - 26640. 


Bank Nifty had confirmed our monthly short trade and was holding stronger than Nifty and took our trailing stoploss. 

Now in the coming session Bank Nifty needs to break and sustain above 30510 to test 30720 - 30775 initially and sustaining above it we can see a further upmove till 30955 - 31155. Similarly breaking and sustaining below 30110 we can see a test of 29895 - 29845 initially and sustaining below it we can see a further correction till 29660 - 29460



Bank Nifty Spot Levels for the day are

Long above 30510 for 30630 - 30775 - 31155 , SL 30370

Short below 30110 for 29985 - 29845 - 29460 , SL 30245


If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.
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NIFTY
In the previous session Nifty spot opened at a new lifetime high of 11863.65, made a high of 11883.55 , it made a low of 11682.80,  before closing at 11709.10. Post the exit polls over the weekend Nifty has moved up by 450+ points



For the coming week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11510 and then enter for a initial target of 11615 - 11640 and look to hold further only on sustaining or getting a close above 11640 for the next targets of 11735 - 11835. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11305 and then enter for a initial target of 11200 - 11175 and look to hold further only on sustaining or getting a close below 11175 for the next targets of 11080 - 10980.

Nifty had triggered our weekly long trade with a huge gap up on Monday and completed all our targets of 11735 - 11835 and made a high of 11883.55 .



As mentioned last week " Nifty now has immediate support at 11135 - 11120 and it needs to hold these levels on closing basis for a bounce to come " , and Nifty held these levels on closing basis with a close of 11157 after a low of 11108.30 and bounced back by nearly 850+ points on the back of the exit polls predicting a clear majority for the ruling party.

Nifty has its immediate resistance now at 11870 - 11945 and it needs to break above this zone and give a strong close for a upmove above the psychological 12000 mark.

For the month of May , longs will get confirmed in Nifty with a consecutive close above 11945 for a initial target of 12155 - 12210 and sustaining / closing above it we can see a further move till 12390 - 12585 .  Similarly shorts will get confirmed with a consecutive close below 11550 for  a initial target of 11340 - 11290 and sustaining / closing below it we can see a further move till 11110 - 10910 .

Nifty had confirmed our monthly shorts earlier below 11550 and tested our next target zone of 11110 - 10910 with a low of 11108.30 . Had already mentioned in the previous week that shorts should be booked as the markers had fallen for 9 consecutive sessions and a bounce was due . Nifty bounced back sharply especially on the back of the exit polls giving a clear majority to the ruling government. Now Nifty has immediate resistance near 11870 - 11945 which may be crossed once the final results are out.

Now in the coming session Nifty needs to break and sustain above 11775 to test 11840 - 11855 initially and sustaining above it we can see a further upmove till 11915 - 11975. Similarly breaking and sustaining below 11645 we can see a test of 11580 - 11560 initially and breaking and sustaining below it we can see a further correction till 11505 - 11440


Nifty Spot Levels for the day are

Long above 11775 for 11810 - 11855 - 11975 , SL 11730

Short below 11645 for 11605 - 11560 - 11440 , SL 11690


If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.
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BANK NIFTY
In the previous session Bank Nifty spot opened at 28925.45, made a high of 28983.15, it made a low of 28555.15 ,  before closing at 28616.45

Had mentioned that long trade for the day will get triggered on sustaining above 28915 and short trade for the day will get triggered on sustaining below 28740 .Bank Nifty initially triggered our long trade and completed just 1 target and reversed to take our TSL. It then triggered our short trade and did 175+ points .


For the coming week :

Those who are looking to enter fresh longs should wait for Bank Nifty to sustain / close above 29305 and then enter for a initial target of 29585 - 29655 and look to hold further only on sustaining or getting a close above 29655 for the next targets of 29900 - 30160. 

&

Those who are looking to enter fresh short should wait for Bank Nifty to sustain / close below 28775 and then enter for a initial target of 28495 - 28425 and look to hold further only on sustaining or getting a close below 28425 for the next targets of 28185 - 27920.

Bank Nifty had triggered our weekly short trade and sustaining below 28775 has made a low of 28555.15 coming close to our initial target zone of 28495 - 28425 .







Had mentioned in the previous post " Bank Nifty has its immediate support zone near 28885 - 28555 and it needs to hold these levels for a bounce in the coming sessions." , and Bank Nifty today made a low of 28555.15 and tested the lower end of the support zone. 

On the upside Bank Nifty has immediate resistance near 29305 - 29425 and it needs to give a strong close above it for a bounce.


For the month of May , longs will be confirmed in Bank Nifty with a consecutive close above 30505 for a initial target of 31285 - 31480 and sustaining / closing above it we can see a further move till 32155 - 32890 . Similarly Bank Nifty shorts will be confirmed with a consecutive close below 29025 for a initial target of 28245 - 28050 and sustaining / closing below it we can see a further move till 27380 - 26640. 


Bank Nifty has confirmed our monthly short trade and is holding slightly stronger than Nifty and now has resistance near 29270 - 29310 on a bounce. Sustaining below 29025 it remains weak and can move towards our initial monthly short targets . 


Now in the coming session Bank Nifty needs to break and sustain above 28705 to test 28795 - 28820 initially and sustaining above it we can see a further upmove till 28900 - 28985. Similarly breaking and sustaining below 28530 we can see a test of 28435 - 28415 initially and sustaining below it we can see a further correction till 28335 - 28245.



Bank Nifty Spot Levels for the day are

Long above 28705 for 28760 - 28820 - 28985 , SL 28645

Short below 28530 for 28475 - 28415 - 28245 , SL 28590

There would be no new updates on the blog between 17th to 20th of May. Please accept our apologies for any inconvenience it may cause to readers. 

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.
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NIFTY
In the previous session Nifty spot opened at 11271.70, made a high of 11286.80 , it made a low of 11136.95,  before closing at 11157.00

Had mentioned that long trade will get triggered for the day on sustaining above 11250 and short trade will get triggered for the day on sustaining below 11195. Nifty initially triggered our long trade with a gap up near our 2nd target and did not give a chance to enter . It then reversed and triggered our short trade and did 50+ points. 

For the coming week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11350 and then enter for a initial target of 11425 - 11440 and look to hold further only on sustaining or getting a close above 11440 for the next targets of 11505 - 11575. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11210 and then enter for a initial target of 11135 - 11120 and look to hold further only on sustaining or getting a close below 11120 for the next targets of 11055 - 10985.

Nifty had triggered our weekly short trade and completed our initial target of 11135 - 11120 with a low of 11108.30. Now Nifty has to sustain below 11120 to move towards our next targets of 11055 - 10985 . Holding above 11120 - 11135 Nifty can keep attempting a bounce.



Nifty now has immediate support at 11135 - 11120 and it needs to hold these levels on closing basis for a bounce to come . 

Nifty has its immediate resistance at 11210 - 11235 and above it the next resistance is placed at  11350 - 11450 .


For the month of May , longs will get confirmed in Nifty with a consecutive close above 11945 for a initial target of 12155 - 12210 and sustaining / closing above it we can see a further move till 12390 - 12585 .  Similarly shorts will get confirmed with a consecutive close below 11550 for  a initial target of 11340 - 11290 and sustaining / closing below it we can see a further move till 11110 - 10910 .

Nifty had confirmed our monthly shorts below 11550 and completed our initial targets with a low of 11251.05 last week . This week as mentioned Nifty on sustaining below 11270 has so far made a low of 11108.30 touching our next short targets of 11110 - 10910 . Had mentioned in the previous post that " Those who are holding shorts should look to exit on a further correction near 11050 - 11025 as the markets have been falling for 9 consecutive sessions and we might see a bounce in the coming sessions ." , and Nifty bounced back from near 11100 itself. This bounce now has resistance near 11350 - 11450 zone.


Now in the coming session Nifty needs to break and sustain above 11180 to test 11205 - 11215 initially and sustaining above it we can see a further upmove till 11235 - 11260. Similarly breaking and sustaining below 11130 we can see a test of 11110 - 11100 initially and breaking and sustaining below it we can see a further correction till 11080 - 11055


Nifty Spot Levels for the day are

Long above 11180 for 11195 - 11215 - 11260 , SL 11165

Short below 11135 for 11120 - 11100 - 11055 , SL 11150

There would be no new updates on the blog between 17th to 20th of May. Please accept our apologies for any inconvenience it may cause to readers. 

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Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.
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