NIFTY
Nifty has closed the week at 8238.15 after making a new high for the month at 8246.4 , with nearly a 48 points gain over last week's close . Nifty spot has managed to close above 8200 after 37 trading sessions
In the coming week Nifty spot needs to give a close above 8266 to confirm uptrend continuation and then one can expect a move till 8330 initially and above that till 8430 . Similarly a close below 8210 can make Nifty test lower levels till 8145 initially and below that till 8045
Nifty Spot Levels for the week are
Long above 8266 , Tgt 8283 - 8297 - 8321
IF Nifty spot manages to get 2 consecutive close above 8331 then ,
can test 8343 - 8384 - 8430
Short below 8210 , Tgt 8193 - 8179 - 8155
IF Nifty spot manages to get 2 consecutive close below 8145 then,
can test 8134 - 8093 - 8048
BANK NIFTY
Bank Nifty spot has closed the week at 17912.85 after making a new high for the month at 17947.75, and closed with nearly a 323 points gain over last week. Bank Nifty spot has managed to close above 17900 after 37 trading sessions
In the coming week Bank Nifty spot needs to give a consecutive close above 17981 to confirm uptrend continuation and then one can expect a move till 18141 initially and above that till 18381 . Similarly a close below 17844 can make Bank Nifty test lower levels till 17685 initially and below that till 17444
Bank Nifty Levels for the week are
Long above 17981 , Tgt 18024 - 18092 - 18116
IF Bank Nifty spot manages to get 2 consecutive close above 18141 then
can test 18170 - 18271 - 18382
Short below 17844 , Tgt - 17802 - 17768 - 17709
IF Bank Nifty spot manages to get 2 consecutive close below 17685 then
can test 17656 - 17555 - 17444
Disclaimer : These are my personal views and trades taken on them should be done with a strict Stop loss and also after consulting your financial advisor .
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