11215 WAS OUR TARGET FOR NIFTY IN LAST WEEK WHICH WE HAD SHARED IN OUR DAILY VIEW FOR NIFTY & BANK NIFTY BLOG POST.
ATLAST ON DUE TIME BULLS MANAGED TO COMPLETE OUR TARGET...!!!
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IN OUR LAST BLOG WEEKLY POST WE HAD SHARED OUR VIEW THAT WE ARE EXPECTING RANGE BETWEEN 10860-11240 FOR NIFTY AND ACTUAL RANGE REMAINED 11010-11283 NOW FOR BANK NIFTY EXPECTED RANGE WAS 26600-27400 AND ACTUAL RANGE 26671-27661 SO MORE OR LESS OUR RANGE WAS RESPECTED BY BEARS. FOR DOWNSIDE BUT BULLS WERE SUPERCHARGED AND MANAGED TO LIFT BOTH INDICES TO LIFE TIM HIGH.
WE ARE GOING TO START ONLINE TECHNICAL ANALYSIS WEEKDAY BATCH (7th BATCH) FROM 06/08/2018 WITH 4 MONTHS WITH ONLINE/OFFLINE SUPPORT VIA TELEGRAM GROUP. TO AVAIL EARLY BIRD DISCOUNT OF 10% (TILL 31/07/2018) OR FOR MORE DETAILS CALL 08866145155 OR DROP MAIL ON NIFTY50STRIKER@GMAIL.COM
ATLAST ON DUE TIME BULLS MANAGED TO COMPLETE OUR TARGET...!!!
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IN OUR LAST BLOG WEEKLY POST WE HAD SHARED OUR VIEW THAT WE ARE EXPECTING RANGE BETWEEN 10860-11240 FOR NIFTY AND ACTUAL RANGE REMAINED 11010-11283 NOW FOR BANK NIFTY EXPECTED RANGE WAS 26600-27400 AND ACTUAL RANGE 26671-27661 SO MORE OR LESS OUR RANGE WAS RESPECTED BY BEARS. FOR DOWNSIDE BUT BULLS WERE SUPERCHARGED AND MANAGED TO LIFT BOTH INDICES TO LIFE TIM HIGH.
WE ARE GOING TO START ONLINE TECHNICAL ANALYSIS WEEKDAY BATCH (7th BATCH) FROM 06/08/2018 WITH 4 MONTHS WITH ONLINE/OFFLINE SUPPORT VIA TELEGRAM GROUP. TO AVAIL EARLY BIRD DISCOUNT OF 10% (TILL 31/07/2018) OR FOR MORE DETAILS CALL 08866145155 OR DROP MAIL ON NIFTY50STRIKER@GMAIL.COM
NOW LETS HAVE LOOK AT WEEKLY CLOSE FOR NIFTY & BANK NIFTY
WEEK ON WEEK NIFTY CLOSED WITH GAINS OF 268 POINTS WHEREAS BANK NIFTY CLOSED WITH GAINS OF 761 POINTS.
Nifty View
Lets have look at Nifty Weekly Chart
We can see that Bulls managed to give convincing green candle after SYMMETRICAL TRIANGLE Breakout. As per textbook theory target for this pattern comes at 11900-11920 zone.
Lets have look at Nifty Daily Chart
We can see that Bulls managed to give convincing green candle closure above WEDGE formation (on Daily Chart). As per textbook theory target for this pattern comes at 12030-12050 zone.
IMPORTANT MOVING AVERAGES
Weekly 20 & 50 EMA comes at 10387 & 10741 respectively.
SUPPORT & RESISTANCE LEVELS
NOW PRACTICALLY CANDLES ARE IN UNCHARTED TERRITORY SO FINDING RESISTANCE IS BIT DIFFICULT BUT STILL WITH USE OF FEW TOOLS WE CAN SAY FOLLOWING LEVELS SHALL ACT AS RESISTANCE ON HIGHER TIMEFRAME CHARTS
WEEKLY CHART
11280-11300, 11390-11410 & 11510-11520 (AGGRESSIVE BULLISH PATTERN) (WE SHALL BE CONDUCTING FREE WEBINAR ON THIS PATTERN ON SUNDAY AT 12:30 PM)
11380-11400 & 11900-11920 (AGGRESSIVE BULLISH PATTERN) (WE SHALL BE CONDUCTING FREE WEBINAR ON THIS PATTERN ON SUNDAY AT 12:30 PM)
CONCLUSION
AS AUGUST SERIES IS HAVING MORE TRADING SESSIONS USUAL SO SOME VOLATILE MOVES ON BOTH SIDE CANNOT BE RULED OUT.
BULLS SHALL BE COMFORTABLE AS LONG AS WEEKLY CLOSE IS ABOVE 10980 IN ENTIRE AUGUST SERIES. ON UPSIDE 11500 SHALL ACT AS STRONG RESISTANCE.
NEXT WEEK RANGE WOULD BE 11060-11440
Nifty Bank View
Lets have look at Nifty Bank Weekly Chart
We can see that Bulls managed to lift Nifty Bank but some how we can see that now clearing supply zone on weekly close will be difficult task for bulls.
CONCLUSION
IMPORTANT MOVING AVERAGES
Weekly 20 & 50 EMA comes at 25212 & 26227 respectively.
Important levels for next week are 25810-25920-25985-26070-26170-26255-26285-26325-26410-26450-26520-26615-26650-26695-26765-26900-26970-27045-27145-27230-27335-27470-27600 which may act as support or resistance ON DAILY CHART AS WELL AS ON INTRADAY MOVES as the case may be.
Weekly 20 & 50 EMA comes at 25212 & 26227 respectively.
SUPPORT & RESISTANCE LEVELS
NOW PRACTICALLY CANDLES ARE IN UNCHARTED TERRITORY SO FINDING RESISTANCE IS BIT DIFFICULT BUT STILL WITH USE OF FEW TOOLS WE CAN SAY FOLLOWING LEVELS SHALL ACT AS RESISTANCE ON HIGHER TIMEFRAME CHART CHARTS
WEEKLY CHART
28280-28300, 29380-29400 & 31180-31200 (AGGRESSIVE BULLISH PATTERN) (WE SHALL BE CONDUCTING FREE WEBINAR ON THIS PATTERN ON SUNDAY AT 12:30 PM)
WEEKLY CHART
28100-28200 SHALL ACT AS STRONG RESISTANCE FOR BULLS GOING FORWARD.
MONTHLY CHART
MONTHLY CHART
28280-28300, 29380-29400 & 31180-31200 (AGGRESSIVE BULLISH PATTERN) (WE SHALL BE CONDUCTING FREE WEBINAR ON THIS PATTERN ON SUNDAY AT 12:30 PM)
LOOKING AT BANK NIFTY AUGUST SERIES OPTION CHAIN (4 WEEKLY & 1 MONTHLY ) IT IS OBVIOUS THAT BULLS AND BEARS BOTH SHALL TRY TO PROVE THEIR DOMINANCE. AS LONG AS BULLS ARE ABLE TO SAVE 26700 BEARS MAY NOT BE ABLE TO DOMINATE.
NEXT WEEK RANGE WOULD BE 27100-27800
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