Last 2 weeks were under complete Bears control..!!!
Can we see Bulls comeback in next week..???
Nifty & BankNifty view for next week
Can we see Bulls comeback in next week..???
Nifty & BankNifty view for next week
This was caption given by us is our last weekly post...!!! Which was to larger extent respected by market participants...!!!
Further if we talk about expected range for Nifty & Nifty Bank 10050-10600 & 23900-25200 whereas actual moves remained between 10138-10492 & 24240-25484...!!!
Further if we talk about expected range for Nifty & Nifty Bank 10050-10600 & 23900-25200 whereas actual moves remained between 10138-10492 & 24240-25484...!!!
Now if we check week on week gains then Bulls managed to lift Nifty & Nifty Bank by 156 & 953 points respectively...!!!
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We are going to conduct FREE WEBINAR ON INTRADAY TRADING on 13/10/2018 at 2100 hrs To register click here
Next weekend we are going to conduct another FREE WEBINAR ON INDICATOR ADJUSTMENT on 20/10/2018 at 2100 hrs. To register click here
From 21/10/2018 we are going to start our 11th Batch on Technical Analysis. We are offering 10% discount on individual registration and upto 25% discount till 14th October 2018. Incase if you have any query on course content please click here or incase if you want to join our Whatsapp Group (for Workshop related queries) please click here to join.
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NOW LETS HAVE LOOK AT WEEKLY CLOSE FOR NIFTY & BANK NIFTY
Week on Week Nifty closed with gains of 156 points at 10472 whereas for Nifty Bank Bulls managed close at 25396 with gains of 953 points.
NIFTY VIEW
Lets have look at Nifty Monthly Chart
Different Wedge formations are in place Bulls faced resistance at 11760 (higher end of rising wedge) Now going forward weekly close above 11800 will important milestone for bulls. (Repeat Comment)
Lets have look at Nifty Monthly Chart
BUT GOOD PART IS THAT IN THIS CHART WE CAN SEE THAT T3 TRENDLINE IN WEDGE ACTED AS SUPPORT TIME BEING; NOW GOING FORWARD NEXT WEEK SHALL BE IMPORTANT FOR BULLS TO COME BACK. (Old comment)
WE KNOW THAT BEARS MANAGED TO MAKE NEWER LOW IN PAST WEEK AND THIS IS NOT GOOD SIGN FOR BULLS
WE KNOW THAT BEARS MANAGED TO MAKE NEWER LOW IN PAST WEEK AND THIS IS NOT GOOD SIGN FOR BULLS
Lets have look at Nifty Weekly Chart
Weekly chart suggests more upside till 12000 (with leverage of 50 points) in this calendar year. (Repeat comment) (SEEMS DIFFICULT NOW)
GOING FORWARD NOW ROAD AHEAD FOR BULLS SHALL NOT BE THAT DIFFICULT AS IT HAD BEEN IN LAST 2 WEEKS...!!! (Previous Blog Post View)
10160-10150 MUST ACT AS STRONG SUPPORT UPCOMING WEEK...!!!
Lets have look at Nifty Daily Chart
WE CAN SEE BEARS MANAGED TO FORM AGGRESSIVE BEARISH PATTERN AND SOMEHOW EXTENDED TARGET WAS ALSO ACHIEVED IN QUICK TIME....!!!
GOING FORWARD WE FEEL THAT 10160-10150 SHALL ACT AS STRONG SUPPORT ZONE BELOW THAT 10100-10080 SHALL BE IMPORTANT SUPPORT ZONE.
EXCEPT ANY MAJOR DRAMA (NEWS) WE ARE NOT EXPECTING CLOSE BELOW 10000 FOR SPOT NIFTY FOR 3 DAYS IN ROW IN THIS SERIES. (OLD COMMENT BUT STILL VALID)
IMPORTANT MOVING AVERAGES
GOING FORWARD WE FEEL THAT 10160-10150 SHALL ACT AS STRONG SUPPORT ZONE BELOW THAT 10100-10080 SHALL BE IMPORTANT SUPPORT ZONE.
EXCEPT ANY MAJOR DRAMA (NEWS) WE ARE NOT EXPECTING CLOSE BELOW 10000 FOR SPOT NIFTY FOR 3 DAYS IN ROW IN THIS SERIES. (OLD COMMENT BUT STILL VALID)
IMPORTANT MOVING AVERAGES
Weekly 20, 50 & 100 EMA comes at 10987, 10669 & 10104 respectively.
SUPPORT & RESISTANCE LEVELS
Important levels for next week are 10110-10140-10180-10225-10270-10295-10325-10350-10380-10415-10460-105000-10525-10555-10585-10615-10650-10690-10715-10740-10785-10815-10840-10870-10895-10940-10980-11020-11045-11070-11100-11125-11150-11170-11210-11240-11255-11275-11300-11360-11385-11410-11425-11455-11470-11495-11525-11550-11565-11585-11605-11620-11655-11690-11710-11725-11735-11750 which may act as support or resistance ON DAILY CHART AS WELL AS ON INTRADAY MOVES as the case may be.
CONCLUSION
NEXT WEEK RANGE 10200-10750
Nifty Bank View
Lets have look at Nifty Bank Monthly Chart
NOW WE FEEL THAT THIS CLOSE BELOW RISING TRENDLINE IS BIT PAINFUL FOR BULLS. GOING FORWARD IMMEDIATE SUPPORT COMES AT 24000-24100 ZONE ON MONTHLY CHART AS PER GIVEN NEWLY FORMED EXPANDING WEDGE. (REPEAT COMMENT)
GOOD THING IS THAT WE ARE NOT ABLE TO SEE ANY LOW BELOW THIS EXPANDING WEDGE...!!!
Lets have look at Nifty Bank Weekly Chart
NOW GOING FORWARD 24500-24300 MUST ACT STRONG SUPPORT IN NEXT WEEK.
Lets have look at Nifty Bank Daily Chart
DIVERGENCE ON DAILY CHARTS HELPED BULLS TO LIFT NIFTY BANK TO HIGHER LEVELS. NOW CLOSE NEAR HIGHEST LEVEL OF WEEK WE FEEL THAT TEMPORARY BOTTOM IS MADE.
IMPORTANT MOVING AVERAGES
Weekly 20, 50 & 100 EMA comes at 26374, 25732 & 24115 Respectively.
SUPPORT & RESISTANCE LEVELS
Important levels for next week are 22980-23090-23215-23325-23445-2575-2360-23740-23810-23930-24010-24085-2450-24250-24380-24515-24680-24810-25065-25150-25220-25340-25455-25650-25775-25810-25920-25985-26070-26170-26255-26285-26325-26410-26450-26520-26615-26650-26695-26765-26900-26970-27045-27145-27230-27335-27470-27600-27640-27680-27720-27765-27790-27825-27845-27890-27940-27970-28015-28060-28130-28175-28210-28265-28320-28375 which may act as support or resistance ON DAILY CHART AS WELL AS ON INTRADAY MOVES as the case may be.
EXPECTED RANGE 24900-26100
RECORDINGS OF OLD FREE WEBINARS CAN BE FOUND ON OUR YOUTUBE CHANNEL
NEXT WEEK RANGE 10200-10750
Nifty Bank View
Lets have look at Nifty Bank Monthly Chart
GOOD THING IS THAT WE ARE NOT ABLE TO SEE ANY LOW BELOW THIS EXPANDING WEDGE...!!!
Lets have look at Nifty Bank Weekly Chart
Lets have look at Nifty Bank Daily Chart
IMPORTANT MOVING AVERAGES
Weekly 20, 50 & 100 EMA comes at 26374, 25732 & 24115 Respectively.
SUPPORT & RESISTANCE LEVELS
Important levels for next week are 22980-23090-23215-23325-23445-2575-2360-23740-23810-23930-24010-24085-2450-24250-24380-24515-24680-24810-25065-25150-25220-25340-25455-25650-25775-25810-25920-25985-26070-26170-26255-26285-26325-26410-26450-26520-26615-26650-26695-26765-26900-26970-27045-27145-27230-27335-27470-27600-27640-27680-27720-27765-27790-27825-27845-27890-27940-27970-28015-28060-28130-28175-28210-28265-28320-28375 which may act as support or resistance ON DAILY CHART AS WELL AS ON INTRADAY MOVES as the case may be.
CONCLUSION
EXPECTED RANGE 24900-26100
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