Nifty & Nifty Bank Weekly View for 27/08/2018 to 31/08/2018

IN OUR LAST BLOG WEEKLY POST WE HAD SHARED OUR VIEW THAT WE ARE EXPECTING RANGE BETWEEN 11300-11650 FOR NIFTY AND ACTUAL RANGE REMAINED 11499-11621 NOW FOR NIFTY BANK EXPECTED RANGE WAS 27800-28400 AND ACTUAL RANGE 27782-28326 SO BARING FEW POINTS OUR EXPECTED RANGE WAS FULLY RESPECTED BY MARKET PARTICIPANTS...!!!

WE ARE GOING TO START 9th BATCH ON TECHNICAL ANALYSIS AND GOOD NEWS FOR ALL WORKING PROFESSIONAL IT WILL BE WEEKEND BATCH AND SESSIONS WILL BE CONDUCTED ON WEEKEND MORNING BETWEEN 8 AM TO 10 AM ONLY...!!! 

WE ARE OFFERING EARLY BIRD DISCOUNT OF 10% ON WORKSHOP FEE (ACTUAL FEE 7500/-) TILL 31st AUGUST 2018. SESSIONS WILL  BE CONDUCTED ON WEEKEND FOR ABOUT 2 MONTHS. AFTER THAT WE ARE ALSO OFFERING 2 MONTHS ONLINE/OFFLINE SUPPORT. SO FOR TOTAL 4 MONTHS FEE IS JUST 6750/- (IF PAID ON OR BEFORE 31st AUGUST 2018) FOR MORE DETAIL CALL 08866145155 OR DROP MAIL ON NIFTY50STRIKER@GMAIL.COM

IF YOU ARE EQUITY TRADER JOIN OUR TELEGRAM BOT FOR EQUITY & IF YOU ARE COMMODITY TRADER TOO THEN YOU CAN JOIN OUR TELEGRAM COMMODITY CHANNEL AS WELL. 

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

WEEK ON WEEK NIFTY CLOSED WITH GAINS OF 87 POINTS AT 11557 WHEREAS BANK NIFTY CLOSED WITH LOSS OF 294 POINTS AT 27834.

NIFTY VIEW

Lets have look at Nifty Monthly Chart

Different Wedge formations Bulls need to close above 11620-11625 zone for more upside on or before this expiry else for next series 11640-11650 shall become strong resistance. 

Lets have look at Nifty Weekly Chart

Weekly chart suggests more upside till 12000 (with leverage of 50 points) in this calender year. 

Lets have look at Nifty Daily Chart

We can see that on daily chart some divergence has taken place. To understand divergence click here

SOMEHOW WE FEEL THAT IN NEXT WEEK BULLS SHALL TRY LIFT DRAG NIFTY TILL 11600+ LEVELS. (REPEAT COMMENT FROM PREVIOUS BLOG POST) 

ABOVE VIEW WAS FULLY RESPECTED BY BULL TO LARGER EXTENT...!!!

NOW FOR NEXT WEEK AGAIN 11600-11620 SHALL ACT AS STRONG RESISTANCE ZONE.

IMPORTANT MOVING AVERAGES 

Weekly 20 & 50 EMA comes at 10545 & 10979 respectively. 

SUPPORT & RESISTANCE LEVELS 

Important levels for next week are 10785-10815-10840-10870-10895-10940-10980-11020-11045-11070-11100-11125-11150-11170-11210-11240-11255-11275-11300-11360-11385-11410-11425-11455-11470-11495-11525-11550-11565-11585-11605-11620 which may act as support or resistance ON DAILY CHART AS WELL AS ON INTRADAY MOVES as the case may be. 

NOW PRACTICALLY ON WEEKLY CHART CANDLES ARE IN UNCHARTED TERRITORY SO FINDING RESISTANCE IS BIT DIFFICULT BUT STILL WITH USE OF FEW TOOLS WE CAN SAY FOLLOWING LEVELS SHALL ACT AS RESISTANCE  ON HIGHER TIMEFRAME CHARTS 

CONCLUSION

Now next week is Expiry week so volatility will be there but we feel if in first 2 sessions of week Bulls manages to give close above 11600-11620 zone then more upside of 100-150 points can't be ruled out. 

NEXT WEEK RANGE WOULD BE 11400-11750

Nifty Bank View

Lets have look at Nifty Bank Monthly Chart

Nothing much impressive on monthly chart so not posting. 
Lets have look at Nifty Bank Weekly Chart

It is clear from chart that 28350-28400 is strong hurdle zone. 

Lets have look at Nifty Bank Daily Chart

We can see that on daily chart some divergence has taken place. To understand divergence click here

IMPORTANT MOVING AVERAGES

Weekly 20 & 50 EMA comes at 25616 & 26795 respectively. 

SUPPORT & RESISTANCE LEVELS

Important levels for next week are 25810-25920-25985-26070-26170-26255-26285-26325-26410-26450-26520-26615-26650-26695-26765-26900-26970-27045-27145-27230-27335-27470-27600-27640-27680-27720-27765-27790-27825-27845-27890-27940-27970-28015-28060-28130-28175-28210-28265-28320-28375 which may act as support or resistance ON DAILY CHART AS WELL AS ON INTRADAY MOVES as the case may be. 

CONCLUSION

Now next week is Expiry week so volatility will be there but we feel if in first 2 sessions of week Bulls manages to give close above 28350-28400 zone then more upside of 250-300 points can't be ruled out. 

NEXT WEEK RANGE WOULD BE 27600-28700

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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.