Nifty & Nifty Bank Weekly View for 28/05/2018 to 01/06/2018

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NOW LETS HAVE LOOK AT WEEKLY CLOSE FOR NIFTY & BANK NIFTY 

WEEK ON WEEK NIFTY CLOSED WITH MINOR GAIN OF 9 POINTS WHEREAS BANK NIFTY CLOSED WITH GAINS CLOSE TO 400 POINTS. 

Lets have look at Nifty Weekly Chart

NOW IF WE SEE OVER ALL TREND THEN NEXT WEEK 2 LEVELS ON DOWNSIDE SHALL PLAY CRUCIAL ROLE WHICH ARE 10555 & 10440 (Repeat comment) 

DURING PAST WEEK SPOT NIFTY MADE LOW OF 10417.80 (WITH LEVERAGE OF 0.25% OUR LEVEL WAS RESPECTED)

Important levels for next week are 9610-9695-9750-9815-9870-9910-9985-10040-10120-10178-10235-10285-10345-10400-10455-10495-10535-10596-10666-10760-10785-10830-10885-10970-11045-11100 which may act as support or resistance ON DAILY CHART as the case may be. 

Weekly 20 & 50 EMA comes at 10483 & 10167

CONCLUSION

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. (REPEAT COMMENT FROM LAST WEEKLY VIEW ) 

WE HAD SAID 2 CLOSE BELOW 10500 BUT BEARS MANAGED ONLY SINGLE CLOSE BELOW 10500.

FOR NEXT WEEK MORE OR LESS RANGE WOULD BE 10700-10400 (VIEW SHARED IN LAST WEEKLY POST) NOW GOING FORWARD NEXT WEEK RANGE WOULD BE BETWEEN 10500-10800 (EXCEPT ANY EXPIRY DRAMA)

Nifty Bank View

Lets have look at Nifty Bank Weekly Chart

NOW IF WE SEE OVER ALL TREND THEN NEXT WEEK 2 LEVELS ON DOWNSIDE SHALL PLAY CRUCIAL ROLE WHICH ARE 25685 & 25288 (VIEW SHARED IN LAST WEEKLY BLOG POST) 

Important levels for next week are 22980-23090-23215-23325-23445-23575-23630-23740-23810-23930-24010-24085-24150-24250-24380-24515-24680-24810-25065-25150-25220-25340-25455-25650-25775-25880-25925-26135-25335-26425-26615-26760-26890-27065-27250-27400 which may act as support or resistance ON DAILY CHART as the case may be. 

Weekly 20 & 50 EMA comes at 25380 & 24539 respectively. 

CONCLUSION

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. (SHARED IN OUR PREVIOUS WEEKLY POSTS) 

FOR NEXT WEEK MORE OR LESS RANGE SHALL REMAIN 25600-27000

BUT IF WE SEE WEEKLY CLOSE ABOVE 26200 THEN BULLS SHALL GET MORE CONFIDENT FOR NEW LIFE HIGH IN MONTH OF JUNE WHEREAS IF BEARS MANAGE TO CLOSE BELOW 25280 THEN NEW LIFE SHALL REMAIN DREAM FOR BULLS. (VIEW SHARED IN LAST WEEKLY BLOG POST ~ REPEAT COMMENT)

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