Nifty & Nifty Bank Weekly View for 30/04/2018 to 04/05/2018

ONCE AGAIN NIFTY & BANK NIFTY OBLIGED OUR WEEKLY VIEW...!!!

IF YOU MISSED THAT POST PLEASE CLICK TO READ THAT

ANYWAY LETS MOVE FORWARD AND UNDERSTAND HOW MARKETS MOVED IN LAST SESSION. 

NIFTY CLOSED WITH GAINS OF ABOUT 130 POINTS WHEREAS BANK NIFTY CLOSED WITH GAINS OVER 450 POINTS...!!!

Now 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

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 10399 & 10083 

CONCLUSION

Next week if 10480-10500 is not broken on closing basis of 2 sessions we can upside till 10650-10680 levels (LAST WEEK VIEW AND BULLS OBLIGED TO FULLEST)

NOW FOR ENTIRE MAY SERIES IF BULLS MANAGED TO SAVE 10500 ON CLOSING BASIS THEN BY JUNE EXPIRY WE MAY SEE NEW LIFE HIGH FOR NIFTY BUT IF SEE 2 CLOSES BELOW 10500 THEN AGAIN BEARS MAY DRAG NIFTY NEAR TO 10000 LEVELS. 

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 25004 & 24230 respectively. 

CONCLUSION

Next week if 24500-25600 is saved by bulls then more upside till 25400-25500 is possible on or before expiry. (LAST WEEK VIEW AND BULLS OBLIGED WITH 1 DAY DELAY FOR DESIRED TARGET) 

NOW FOR ENTIRE MAY SERIES IF BULLS MANAGED TO SAVE 24500 ON CLOSING BASIS THEN BY JUNE EXPIRY WE MAY SEE NEW LIFE HIGH FOR NIFTY BANK TOO BUT IF SEE 2 CLOSES BELOW 24500 THEN AGAIN BEARS MAY DRAG NIFTY NEAR TO 23500 LEVELS.

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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.