NIFTY CLOSED WITH LOSS OF ABOUT 74 POINTS WHEREAS BANK NIFTY CLOSED WITH GAINS OVER 250 POINTS...!!!
Now lets move further and Analyse what could be road ahead for Nifty & Nifty Bank for next week.
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
Weekly 20 & 50 EMA comes at 10420 & 10104
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 - REPEAT COMMENT)
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.
FOR NEXT MORE OR LESS RANGE WOULD BE 10520-10780
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 25099 & 24329 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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