ROLLER COASTER RIDE AND AT END OF WEEK BULLS WERE ON BACKFOOT...!!!
BEARS MANAGED GIVE BEARISH ENGULFING CANDLE BUT WE FEEL THAT THIS SETUP SHOULD NOT BE CONSIDERED AS WE HAD LONG TAIL FOR PREVIOUS WEEKLY CANDLE...!!!
NOW IF WE DISCUSS ABOUT LAST WEEK RANGE FOR NIFTY IT REMAINED 10628-10924 FOR NIFTY BANK IT WAS 26923-27430 WHEREAS OUR EXPECTED RANGE WAS 10600-11200 & 26800-27800...!!!
SO MARKET PARTICIPANTS RESPECTED OUR RANGE TO FULL EXTENT...!!!
WE ARE GOING TO START 1st BATCH ON TECHNICAL ANALYSIS & OPTION CHAIN OF 2019 FROM 26 JANUARY 2019. WE HAVE CREATED WHATSAPP GROUP FOR TRADERS WHO ARE INTERESTED TO PARTICIPATE FOR WORKSHOP. PLEASE CLICK HERE TO JOIN. WE ARE GIVING SPECIAL OFFER TILL 10TH JANUARY 2019. OFFER IS AS UNDER:-
BEARS MANAGED GIVE BEARISH ENGULFING CANDLE BUT WE FEEL THAT THIS SETUP SHOULD NOT BE CONSIDERED AS WE HAD LONG TAIL FOR PREVIOUS WEEKLY CANDLE...!!!
NOW IF WE DISCUSS ABOUT LAST WEEK RANGE FOR NIFTY IT REMAINED 10628-10924 FOR NIFTY BANK IT WAS 26923-27430 WHEREAS OUR EXPECTED RANGE WAS 10600-11200 & 26800-27800...!!!
SO MARKET PARTICIPANTS RESPECTED OUR RANGE TO FULL EXTENT...!!!
WE ARE GOING TO START 1st BATCH ON TECHNICAL ANALYSIS & OPTION CHAIN OF 2019 FROM 26 JANUARY 2019. WE HAVE CREATED WHATSAPP GROUP FOR TRADERS WHO ARE INTERESTED TO PARTICIPATE FOR WORKSHOP. PLEASE CLICK HERE TO JOIN. WE ARE GIVING SPECIAL OFFER TILL 10TH JANUARY 2019. OFFER IS AS UNDER:-
- IF YOU ARE REGISTERING FOR TECHNICAL ANALYSIS BEFORE 10th JANUARY 2019 THEN POST COMPLETION OF SESSIONS WE SHALL SHARE FREE OPTION TRADING CALLS WITH YOU FOR 1 MONTH WITHOUT ANY COST.
- IF YOU ARE REGISTERING FOR TECHNICAL ANALYSIS + OPTION TRADING BEFORE 10th JANUARY 2019 THEN POST COMPLETION OF SESSIONS WE SHALL SHARE FREE OPTION TRADING CALLS WITH YOU FOR 3 MONTHS WITHOUT ANY COST.
NOW LETS HAVE LOOK AT WEEKLY CLOSE FOR NIFTY & BANK NIFTY
NIFTY VIEW
Lets have look at Nifty Monthly Chart
At present we feel it makes no sense to study monthly candle. (Previous blog post comment)
Previous month low of 1033.85 shall be come key for this entire series.
Lets have look at Nifty Weekly Chart
Previous month low of 1033.85 shall be come key for this entire series.
Lets have look at Nifty Weekly Chart
Some how we feel that if bulls manage to give close above 11000 then more upmove till 11120-11150 zone can't be ruled out in next week. (Previous blog post comment)
Previous week low of 10534.55 shall be come key for this entire series. (We are not expecting this to level to get retouched in week or series as whole)
Lets have look at Nifty Daily Chart
10960-11000 must act as resistance (supply zone) but if that is cleared then mroe upside of 125-150 points can be ruled out. (Previous blog post comment)
One of best pattern (Symmetrical Triangle) is getting formed; as per chart formation we feel that 10900+ in next week...!!!
Previous week low of 10534.55 shall be come key for this entire series. (We are not expecting this to level to get retouched in week or series as whole)
One of best pattern (Symmetrical Triangle) is getting formed; as per chart formation we feel that 10900+ in next week...!!!
IMPORTANT MOVING AVERAGES
Weekly 20, 50 & 100 EMA comes at 10768, 10658 & 10216 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 10600-11100
Nifty Bank View
Lets have look at Nifty Bank Monthly Chart
At present we feel it makes no sense to study monthly candle. (Previous blog post comment)
Not expecting previous monthly low to be retouched again in this calendar quarter.
Lets have look at Nifty Bank Weekly Chart
EXPECTED RANGE 27000-28100
RECORDINGS OF OLD FREE WEBINARS CAN BE FOUND ON OUR YOUTUBE CHANNEL
NEXT WEEK RANGE 10600-11100
Nifty Bank View
Lets have look at Nifty Bank Monthly Chart
At present we feel it makes no sense to study monthly candle. (Previous blog post comment)
Not expecting previous monthly low to be retouched again in this calendar quarter.
27300-27400 zone and above 27500 must act as resistance for next week. At present we feel it makes no sense to study monthly candle. But if that is cleared then 27700-27800 may act as next resistance. (Previous blog post comment)
Chart structure suggest upmove till 27500 in next week. (Previous blog post comment)
Past week low of 26926 shall remain safe for next week.
IMPORTANT MOVING AVERAGES
Weekly 20, 50 & 100 EMA comes at 26443, 25959 & 24576 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.
Not expecting sub 27000 levels in next week.
Lets have look at Nifty Bank Daily Chart
Chart structure suggest upmove till 27500 in next week. (Previous blog post comment)
Past week low of 26926 shall remain safe for next week.
Weekly 20, 50 & 100 EMA comes at 26443, 25959 & 24576 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 27000-28100
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