THOUGH BULLS WERE NOT ABLE TO CARRY MOMENTUM IN PAST WEEK BUT SOME HOW THEY DID NOT LET BEARS TO TAKE OVER DESPITE OF SOME ODDS IN GLOBAL MARKETS...!!!
OUR EXPECTED RANGE FOR NIFTY & NIFTY BANK WAS 10200-10650 & 24900-25700 SOMEHOW MARKET PARTICIPANTS RESPECTED OUR GIVEN RANGE AS WELL...!!!
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OUR EXPECTED RANGE FOR NIFTY & NIFTY BANK WAS 10200-10650 & 24900-25700 SOMEHOW MARKET PARTICIPANTS RESPECTED OUR GIVEN RANGE AS WELL...!!!
We are going to conduct FREE WEBINAR ON OPTION GREEKS on 10/11/2018 at 2100 hrs To register click here
Further we are going to conduct couple of free webinars in November month. To get entire list with registration link click here
We conducted Online Technical Analysis + Option Trading also if you are interested learn please call 08866145155 or drop mail on nifty50striker@gmail.com
Incase if you want to know workshop course contents please go through his links.
If you are interested in getting trading views & charts posts (for education and record purpose only) then please subscribe our Telegram Bot or you can follow us on our Twitter handle
NOW LETS HAVE LOOK AT WEEKLY CLOSE FOR NIFTY & BANK NIFTY
Week on Week Nifty closed with Gains of 32 points at 10585 whereas for Nifty Bank Bulls managed to close at 25771 with gains of 70 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. (Repeat comment)
Good part of monthly candle till now is that it is in Favor of Bulls...!!! But it is premature to analyse at present. (Repeat comment)
Lets have look at Nifty Weekly Chart
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. (Repeat comment)
Good part of monthly candle till now is that it is in Favor of Bulls...!!! But it is premature to analyse at present. (Repeat comment)
Lets have look at Nifty Weekly Chart
Somehow big Green candles gives hope of more upside but WE FEEL THAT CLOSE ABOVE 10700 ON WEEKLY BASIS SHALL TRIGGER MORE UPSIDE TILL 11000 IN CURRENT SERIES; BUT THAT IS DIFFICULT LOOKING AT PRESENT STRUCTURE...!!! (Repeat comment)
At present we can see that Bulls are facing problem to manage close above 10600 on weekly close...!!!
Lets have look at Nifty Daily Chart
We can see that falling expanding formation has taking place so going forward Bulls need to clear 10600-10620 zone with good green candle and volume can only lead t more upside till 10700 or even higher levels.
IMPORTANT MOVING AVERAGES
Weekly 20, 50 & 100 EMA comes at 10789, 10626 & 10124 respectively.
SUPPORT & RESISTANCE LEVELS
Important levels
Important levels for next week are 9685-9710-9735-9770-9790-9815-9840-9860-9885-9910-9935-9955-10005-10045-10075-10110-10140-10180-10225-10270-10295-10325-10350-10380-10415-10460-105000-10525-10555-10585-10615-10650-10690-10715-10740-10785-10815-10840-10870-10895-10940-10980-11020-11045-11070-11100-11125-11150-11170-11210-11240-11255-11275-11300-11360-11385-11410-11425-11455-11470-11495-11525-11550-11565-11585-11605-11620-11655-11690-11710-11725-11735-11750 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 10100-10650
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)
GOING FORWARD CANDLE FORMATION MAY PLAY AN IMPORTANT ROLE. (REPEAT COMMENT)
With some adjustments we feel that this MORNING STAR formation may not give convincing BREAKOUT...!!! BUT THAT PREMATURE TO SAY ON MONTHLY CHART (REPEAT COMMENT)
NO FURTHER ANALYSIS IS REQUIRED AT PRESENT.
Lets have look at Nifty Bank Weekly Chart
EXPECTED RANGE 25100-26200
RECORDINGS OF OLD FREE WEBINARS CAN BE FOUND ON OUR YOUTUBE CHANNEL
NEXT WEEK RANGE 10100-10650
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)
GOING FORWARD CANDLE FORMATION MAY PLAY AN IMPORTANT ROLE. (REPEAT COMMENT)
With some adjustments we feel that this MORNING STAR formation may not give convincing BREAKOUT...!!! BUT THAT PREMATURE TO SAY ON MONTHLY CHART (REPEAT COMMENT)
NO FURTHER ANALYSIS IS REQUIRED AT PRESENT.
Lets have look at Nifty Bank Weekly Chart
Next week being Truncated Week we are not expecting big moves...!!! (Previous blog post comment)
Now we feel that for next week 26000-26100 shall act as strong resistance.
Lets have look at Nifty Bank Daily Chart
BUT FOR NEXT WEEK WE FEEL THAT 25900-26000 SHALL ACT AS STRONG RESISTANCE...!!! (Said in previous blog post)
Going further we feel that supply zone already proving worth as said in previous blog post. We feel that one move till 25400-25500 is must looking at chart structure.
IMPORTANT MOVING AVERAGES
Weekly 20, 50 & 100 EMA comes at 26015, 25662 & 24202 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.
Now we feel that for next week 26000-26100 shall act as strong resistance.
Lets have look at Nifty Bank Daily Chart
Going further we feel that supply zone already proving worth as said in previous blog post. We feel that one move till 25400-25500 is must looking at chart structure.
IMPORTANT MOVING AVERAGES
Weekly 20, 50 & 100 EMA comes at 26015, 25662 & 24202 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 25100-26200
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