Nifty & Nifty Bank Weekly View for 23/07/2018 to 27/07/2018

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IN OUR LAST BLOG WEEKLY POST WE HAD SHARED OUR VIEW THAT WE ARE EXPECTING RANGE BETWEEN 10730-11240 FOR NIFTY AND ACTUAL RANGE REMAINED 10925-11076 NOW FOR BANK NIFTY EXPECTED RANGE WAS 26700-27245 AND ACTUAL RANGE 26644-27187 SO MORE OR LESS OUR RANGE WAS RESPECTED BY BULLS & BEARS. 

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

WEEK ON WEEK NIFTY CLOSED WITH LOSS OF 8 POINTS WHEREAS BANK NIFTY CLOSED WITH LOSS OF 63 POINTS. 

Nifty Bank View

Lets have look at Nifty Weekly Chart

WE CAN SEE THAT SOMEHOW DOJI CANDLE CLOSED ABOVE SYMMETRICAL SO LIFE TIME HIGH CAN BE EXPECTED VERY SOON.

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 10684 & 10350 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 & REPEAT COMMENT) 

ABOVE VIEW WAS OBLIGED TO CERTAIN  EXTENT BY BULLS AND TRAPPED BEARS OPENLY. ON TUESDAY NIFTY CLOSED AT 11008 BUT WEDNESDAY'S HIGH WAS 11076 AND CLOSED AT 10980

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. (VIEW IN LAST WEEKLY POST) 

NOW LOOKING AT NIFTY JULY SERIES OPTION CHAIN WE FEEL THAT STAGE IS SET FOR 11100+ CLOSING ON SCREEN IN NEXT WEEK. SOME HOW IT IS ALSO GETTING REFLECTED IN AUGUST SERIES OPTION CHAIN. 

NEXT WEEK RANGE WOULD BE 10860-11240

Nifty Bank View

Lets have look at Nifty Bank Weekly Chart

WE CAN SEE THAT LAST CANDLE IS DOJI CANDLE BUT WE FEEL THAT BULLS ARE JUST TAKING REST FOR NEXT BIG UPSIDE MOVE TO ENTER IN SUPPLY ZONE (27652-27446)

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 26079 & 25112 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 TUESDAY NIFTY BANK CLOSED AT 27008 BUT THURSDAY'S HIGH WAS 27187 AND CLOSED AT 26881. 

LOOKING AT BANK NIFTY JULY SERIES OPTION CHAIN AND 1st WEEKLY SERIES WE FEEL THAT SOME STAGE IS GETTING SET 27400+ IN NEXT 10 SESSIONS. 

FOR NEXT WEEK MORE OR LESS RANGE SHALL REMAIN 26600-27400

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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.