EXCEPT LAST TRADING SESSION OF WEEK EVERY MOVE WAS CLEARLY GOING AS PER EXPECTATION.
MANY OF RETAIL OPTION WRITERS ALSO FACED MARGIN ISSUE IF THEY DID NOT ADOPTED PROPER STRATEGY OR DID NAKED PE WRITING ESPECIALLY FOR SOME FEW BUCKS ON PE WRITING FRONT...!!!
THIS WEEK WAS SO MUCH DOMINATED BY BEARS THAT UPSIDE LIMIT WAS BOUND TO GET RESPECTED BUT DOWNSIDE MOVE WAS BEYOND OUR IMAGINATION...!!!
ANYWAY WE ARE GOING TO CONDUCT FREE ON OPTION TRADING
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MANY OF RETAIL OPTION WRITERS ALSO FACED MARGIN ISSUE IF THEY DID NOT ADOPTED PROPER STRATEGY OR DID NAKED PE WRITING ESPECIALLY FOR SOME FEW BUCKS ON PE WRITING FRONT...!!!
THIS WEEK WAS SO MUCH DOMINATED BY BEARS THAT UPSIDE LIMIT WAS BOUND TO GET RESPECTED BUT DOWNSIDE MOVE WAS BEYOND OUR IMAGINATION...!!!
ANYWAY WE ARE GOING TO CONDUCT FREE ON OPTION TRADING
OPTION TRADING ON 22/09/2018 AT 20:00 HRS TO REGISTER CLICK HERE
WE ARE GOING TO START 1st BATCH ON OPTION TRADING FROM 29/09/2018 FOR MORE DETAIL CONTACT US ON 08866145155 OR 09067750730
JOIN OUR TELEGRAM CHANNEL AS WELL AS TELEGRAM CHANNEL BOT GET FREE POSITIONAL BTST/STBT AS WELL AS INTRADAY TRADING VIEWS...!!!
IF YOU ARE EQUITY TRADER JOIN OUR TELEGRAM BOT FOR EQUITY & IF YOU ARE COMMODITY TRADER TOO THEN YOU CAN JOIN OUR TELEGRAM COMMODITY CHANNEL AS WELL.
NOW LETS HAVE LOOK AT WEEKLY CLOSE FOR NIFTY & BANK NIFTY
WEEK ON WEEK NIFTY CLOSED WITH LOSS OF 372 POINTS AT 11143 WHEREAS BANK NIFTY CLOSED WITH LOSS OF 1567 POINTS AT 25597
NIFTY VIEW
Lets have look at Nifty Monthly Chart
Different Wedge formations are in place Bulls are already facing resistance at 11760 (higher end of rising wedge) Now going forward weekly close above 11800 will important milestone for bulls. (Repeat Comment)
Lets have look at Nifty Monthly Chart
BUT GOOD PART IS THAT IN THIS CHART WE CAN SEE THAT T3 TRENDLINE IN WEDGE ACTED AS SUPPORT TIME BEING GOING FORWARD NEXT WEEK SHALL BE IMPORTANT FOR BULLS TO COME BACK
FOR SEPTEMBER SERIES WE FEEL THAT BULLS WONT BE ABLE TO LIFT NIFTY ABOVE 11770 (EXCEPT LAST 2 DAYS OF SERIES) (REPEAT COMMENT)
HERE WE CAN SEE THAT IN RISING CHANNEL FORMATION ANOTHER SYMMETRICAL FORMATION IS ALSO THERE BUT AFTER BREAKOUT BULLS DID NOT ABLE TO COMPLETE TARGET NOW 10800-10850 MUST ACT AS STRONG SUPPORT FOR SYMMETRICAL PATTERN TARGET OF 11900-11950 WHICH IS ALSO MORE OR LESS NEAR TO RISING CHANNEL TRENDLINE...!!!
Lets have look at Nifty Daily Chart
Going forward 10870-10800 zone must act as strong support.
IMPORTANT MOVING AVERAGES
IMPORTANT MOVING AVERAGES
Weekly 20, 50 & 100 EMA comes at 11137, 10683 & 10075 respectively.
SUPPORT & RESISTANCE LEVELS
Important levels for next week are 10460-105000-10525-10555-10585-10615-10650-10690-10715-10740-10785-10815-10840-10870-10895-10940-10980-11020-11045-11070-11100-11125-11150-11170-11210-11240-11255-11275-11300-11360-11385-11410-11425-11455-11470-11495-11525-11550-11565-11585-11605-11620-11655-11690-11710-11725-11735-11750 which may act as support or resistance ON DAILY CHART AS WELL AS ON INTRADAY MOVES as the case may be.
CONCLUSION
Weekly Close below 11000 shall negate this uptrend.
NEXT WEEK RANGE 11000-11500
Nifty Bank View
Lets have look at Nifty Bank Monthly Chart
TREND IS UP WITHOUT SHADOW OF DOUBT BUT THIS CLOSE BELOW RISING TRENDLINE CAN CREATE PAIN FOR BULLS IF THEY DO NOT COME BACK WITH GOOD BUYING ACTION IN NEXT WEEK.
Lets have look at Nifty Bank Weekly Chart
CLEAR BREAKDOWN CAN BE SEEN IN THIS CHART WITH SIMPLE INDICATION OF 25000 AS STRONG SUPPORT.
WITHOUT SHADOW OF DOUBT TREND IS COMPROMISED ON SMALLER TIMEFRAME CHARTS BUT STILL BULLS CAN STRIKE BACK AND WE CAN SEE LIFE HIGH IN THIS CALENDAR YEAR.
EXPECTED RANGE 25000-26500
RECORDINGS OF OLD FREE WEBINARS CAN BE FOUND ON OUR YOUTUBE CHANNEL
Weekly Close below 11000 shall negate this uptrend.
NEXT WEEK RANGE 11000-11500
Nifty Bank View
Lets have look at Nifty Bank Monthly Chart
TREND IS UP WITHOUT SHADOW OF DOUBT BUT THIS CLOSE BELOW RISING TRENDLINE CAN CREATE PAIN FOR BULLS IF THEY DO NOT COME BACK WITH GOOD BUYING ACTION IN NEXT WEEK.
Lets have look at Nifty Bank Weekly Chart
CLEAR BREAKDOWN CAN BE SEEN IN THIS CHART WITH SIMPLE INDICATION OF 25000 AS STRONG SUPPORT.
Lets have look at Nifty Bank Daily Chart
WITH BREAKDOWN IN FALLING CHANNEL PATTERN BEARS MANAGED TO COMLETE TARGET AS WELL...!!!
IMPORTANT MOVING AVERAGES
Weekly 20, 50 & 100 EMA comes at 26859, 25826 & 24061 Respectively.
SUPPORT & RESISTANCE LEVELS
Important levels for next week are 22980-23090-23215-23325-23445-2575-2360-23740-23810-23930-24010-24085-2450-24250-24380-24515-24680-24810-25065-25150-25220-25340-25455-25650-25775-25810-25920-25985-26070-26170-26255-26285-26325-26410-26450-26520-26615-26650-26695-26765-26900-26970-27045-27145-27230-27335-27470-27600-27640-27680-27720-27765-27790-27825-27845-27890-27940-27970-28015-28060-28130-28175-28210-28265-28320-28375 which may act as support or resistance ON DAILY CHART AS WELL AS ON INTRADAY MOVES as the case may be.
WITH BREAKDOWN IN FALLING CHANNEL PATTERN BEARS MANAGED TO COMLETE TARGET AS WELL...!!!
IMPORTANT MOVING AVERAGES
Weekly 20, 50 & 100 EMA comes at 26859, 25826 & 24061 Respectively.
SUPPORT & RESISTANCE LEVELS
Important levels for next week are 22980-23090-23215-23325-23445-2575-2360-23740-23810-23930-24010-24085-2450-24250-24380-24515-24680-24810-25065-25150-25220-25340-25455-25650-25775-25810-25920-25985-26070-26170-26255-26285-26325-26410-26450-26520-26615-26650-26695-26765-26900-26970-27045-27145-27230-27335-27470-27600-27640-27680-27720-27765-27790-27825-27845-27890-27940-27970-28015-28060-28130-28175-28210-28265-28320-28375 which may act as support or resistance ON DAILY CHART AS WELL AS ON INTRADAY MOVES as the case may be.
CONCLUSION
WITHOUT SHADOW OF DOUBT TREND IS COMPROMISED ON SMALLER TIMEFRAME CHARTS BUT STILL BULLS CAN STRIKE BACK AND WE CAN SEE LIFE HIGH IN THIS CALENDAR YEAR.
EXPECTED RANGE 25000-26500
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