Huge volatile Week with High & Low made during last 2 sessions of Week...!!!
Going forward now we are entering in last week of October Derivative series so some more volatile but range bound moves cannot be ruled out...!!!
Thus market participants respected our range...!!!
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Going forward now we are entering in last week of October Derivative series so some more volatile but range bound moves cannot be ruled out...!!!
Now if we talk about expected range for Nifty & Nifty Bank 10200-10750 & 24900-26100 whereas actual moves remained between 10249-10710 & 24600-25915...!!!
Thus market participants respected our range...!!!
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We are going to conduct FREE WEBINAR ON AGGRESSIVE PATTERN on 27/10/2018 at 2100 hrs To register click here
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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)
But Good Part is that in this chart we can see that T2 Trendline (Wedge formation) acted as support timebeing on closing basis till. Now going forward we feel that Bulls shall try their level best that bears do not manage monthly closing below 10130.
Lets have look at Nifty Monthly Chart
But Good Part is that in this chart we can see that T2 Trendline (Wedge formation) acted as support timebeing on closing basis till. Now going forward we feel that Bulls shall try their level best that bears do not manage monthly closing below 10130.
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)
Some how Bulls managed to give close near to expanding wedge but still previous week low 10138.60 shall act as strong support but going forward weekly close below 10130 may lead to more downside and doors till 10000 shall open easily for Bears...!!!
Lets have look at Nifty Daily Chart
Somehow we feel that 100% retracement of for short term swing from 10138.60 tp 10710.15 will go for expansion and sub 10138.60 levels shall be seen in next week.
IMPORTANT MOVING AVERAGES
IMPORTANT MOVING AVERAGES
Weekly 20, 50 & 100 EMA comes at 10922, 10655 & 10108 respectively.
SUPPORT & RESISTANCE LEVELS
Important levels for next week are 9955-10005-10045-10075-10110-10140-10180-10225-10270-10295-10325-10350-10380-10415-10460-105000-10525-10555-10585-10615-10650-10690-10715-10740-10785-10815-10840-10870-10895-10940-10980-11020-11045-11070-11100-11125-11150-11170-11210-11240-11255-11275-11300-11360-11385-11410-11425-11455-11470-11495-11525-11550-11565-11585-11605-11620-11655-11690-11710-11725-11735-11750 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 9950-10550
Nifty Bank View
Lets have look at Nifty Bank Monthly Chart
Now we feel that this previous month close below trendline is bit painful for Bulls but good part is another expanding wedge formation support comes near to 24000-24100 level. (Repeat comment)
Good thing is that Bears though managed to make new low in this month but still low below wedge Trendline is not yet made. (Repeat comment)
Good Part is that candle till date is doji which is bit comfortable for Bulls.
Lets have look at Nifty Bank Weekly Chart
EXPECTED RANGE 24700-26000
RECORDINGS OF OLD FREE WEBINARS CAN BE FOUND ON OUR YOUTUBE CHANNEL
NEXT WEEK RANGE 9950-10550
Nifty Bank View
Lets have look at Nifty Bank Monthly Chart
Good thing is that Bears though managed to make new low in this month but still low below wedge Trendline is not yet made. (Repeat comment)
Good Part is that candle till date is doji which is bit comfortable for Bulls.
Lets have look at Nifty Bank Weekly Chart
Somehow divergence formation helped more downside but Bulls failed to lift index to more upside.
Lets have look at Nifty Bank Daily Chart
We can see that rising wedge formation trendline helped Bulls in last session but going forward 25100-25000 strong support.
IMPORTANT MOVING AVERAGES
Weekly 20, 50 & 100 EMA comes at 26250, 25706 & 24134 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.
Lets have look at Nifty Bank Daily Chart
IMPORTANT MOVING AVERAGES
Weekly 20, 50 & 100 EMA comes at 26250, 25706 & 24134 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 24700-26000
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