Nifty & Nifty Bank Weekly View for 16/04/2018 to 20/04/2018

WEEK ON WEEK NIFTY CLOSED WITH GAINS OF ABOUT 150 POINTS WHEREAS NIFTY BANK CLOSED WITH GAINS LITTLE OVER 325 POINTS.

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Anyway lets move further and Analyse what could be road ahead for Nifty & Nifty Bank for next week.

Nifty View

Lets have look at Nifty Weekly Chart

As said in our last post we expected upside and result is in front of us. Further we had said that close above 10440-10450 may lead to more upside till 10600 and Bulls managed to lift Nifty upto 10520 levels before week ended on Friday. 

Important levels for next week are 9610-9695-9750-9815-9870-9910-9985-10040-10120-10178-10235-10285-10345-10400-10455-10495-10535-10596-10666-10760 which may act as support or resistance as the case may be. 

Weekly 20 & 50 EMA comes at 10347 & 10037. 

CONCLUSION

Next week if 10550-10570 is not cleared we can expected some pain on downside till 10200 on or before expiry 

Nifty Bank View

Lets have look at Nifty Bank Weekly Chart

Important levels for next week are 22980-23090-23215-23325-23445-23575-23630-23740-23810-23930-24010-24085-24150-24250-24380-24515-24680-24810-25065-25150-25220-25340-25455-25650 which may act as support or resistance as the case may be. 

Weekly 20 & 50 EMA comes at 25010 & 24200 respectively. 
CONCLUSION

Next week if 25600-25650 is not cleared we may see downside flashes till 24500-24600 on or before expiry. 

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Please note this blog post is for education purpose only. While utmost care is taken while writing this post but any human error cant be ruled out and we apologize for same in advance.