Nifty & Nifty Bank Weekly View for 16/07/2018 to 20/06/2018

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IN OUR LAST BLOG WEEKLY POST WE HAD SHARED OUR VIEW THAT WE ARE EXPECTING RANGE BETWEEN 10550-10850 FOR NIFTY AND ACTUAL RANGE REMAINED 10807-11078 NOW FOR BANK NIFTY EXPECTED RANGE WAS 26100-26650 AND ACTUAL RANGE 26611-27165 SO WE FAILED TO PREDICT FUTURE MOVE. 

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

WEEK ON WEEK NIFTY CLOSED WITH LOSS OF 107 POINTS WHEREAS BANK NIFTY CLOSED WITH LOSS OF 303 POINTS. 

Nifty Bank View

Lets have look at Nifty Weekly Chart

WE CAN SEE THAT SOMEHOW BULLS CANDLE CLOSED ABOVE SYMMETRICAL SO LIFE TIME HIGH MUST AS RESISTANCE BUT IT SHALL BE CLEARED IN JULY EXPIRY. 

Important levels for next week are 10785-10815-10840-10870-10895-10940-10980-11020-11045-11070-11100-11125 which may act as support or resistance ON DAILY CHART as the case may be. 

Weekly 20 & 50 EMA comes at 10323 & 10650 respectively. 

CONCLUSION

NOW FOR ENTIRE JULY SERIES IF BULLS MANAGED TO SAVE 10600 ON CLOSING BASIS THEN ENTIRE SERIES RANGE WOULD BE 10600-11000. ANY CLOSE ON EITHER SIDE OF EXPECTED RANGE ON CLOSING BASIS (LEVERAGE OF 25 POINTS) THEN MORE 100-150 POINTS MOVE ON SAME CANT BE RULED OUT. (OLD COMMENT) 

ABOVE VIEW WAS OBLIGED TO CERTAIN  EXTENT BY BULLS AND TRAPPED BEARS OPENLY. ON WEDNESDAY NIFTY CLOSED AT 10948 BUT THURSDAY'S HIGH WAS 11078 AND CLOSED AT 11023. 

NOW FOR NEXT WEEK WE FEEL FIRST 1 OR 2 SESSIONS WOULD BE SOME CONSOLIDATION OR RANGE-BOUND AFTER THAT WE ARE EXPECTING LIFE HIGH. 

NEXT WEEK RANGE WOULD BE 10730-11240

Nifty Bank View

Lets have look at Nifty Bank Weekly Chart

WE CAN SEE THAT RED TRENDLINE FOR BULLS BUT WE FEEL THAT NEXT OR MAX TO MAX IN EXPIRY WEEK THIS SHALL BE CLEARED ON WEEKLY CLOSING BASIS ALSO. 

Important levels for next week are 25810-25920-25985-26070-26170-26255-26285-26325-26410-26450-26520-26615-26650-26695-26765-26900-26970-27045-27145-27230 which may act as support or resistance ON DAILY CHART as the case may be. 

Weekly 20 & 50 EMA comes at 25041 & 25995 respectively. 

CONCLUSION

NOW FOR ENTIRE JULY SERIES IF BULLS MANAGED TO SAVE 26000 ON CLOSING BASIS THEN ENTIRE SERIES RANGE WOULD BE 26000-27000. ANY CLOSE ON EITHER SIDE OF EXPECTED RANGE ON CLOSING BASIS (LEVERAGE OF 50 POINTS) THEN MORE 200-250 POINTS MOVE ON SAME CANT BE RULED OUT. (OLD COMMENT) 

ABOVE VIEW WAS OBLIGED TO CERTAIN  EXTENT BY BULLS AND TRAPPED BEARS OPENLY. ON WEDNESDAY NIFTY BANK CLOSED AT 26816 BUT THURSDAY'S HIGH WAS 27164 AND CLOSED AT 27026. 

NOW FOR NEXT WEEK WE FEEL FIRST 1 OR 2 SESSIONS WOULD BE SOME CONSOLIDATION OR RANGE-BOUND AFTER THAT WE ARE EXPECTING 27200+ LEVELS. 

FOR NEXT WEEK MORE OR LESS RANGE SHALL REMAIN 26700-27425

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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.