SOME HOW BEARS FAILED TO GIVE BREAKDOWN BELOW SYMMETRICAL TRIANGLE FORMATION FOR NIFTY WHICH WE HAD EXPECTED WELL IN ADVANCE BUT AFTER THAT ALSO NO MAJOR MOVES CAN BE SEEN AND HENCE WE FEEL THAT SYMMETRICAL TRIANGLE FORMATION NEEDS TO BE NEGLECTED...!!!
NOW IF WE DISCUSS ABOUT LAST WEEK RANGE FOR NIFTY IT REMAINED BETWEEN 10692-10931 FOR NIFTY BANK IT WAS 27335-27612 WHEREAS OUR EXPECTED RANGE WAS 10450-10900 & 26800-27900...!!!
SO MARKET PARTICIPANTS RESPECTED OUR RANGE TO LARGER EXTENT...!!!
WE ARE GOING TO START 1st WEEKENDBATCH ON TECHNICAL ANALYSIS & OPTION CHAIN OF 2019 FROM 26 JANUARY 2019 (THIS WILL BE 15th BATCH - 1st BATCH WAS STARTED IN FEBRUARY 2018). WE HAVE CREATED WHATSAPP GROUP FOR TRADERS WHO ARE INTERESTED TO PARTICIPATE FOR WORKSHOP. PLEASE CLICK HERE TO JOIN.
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NOW IF WE DISCUSS ABOUT LAST WEEK RANGE FOR NIFTY IT REMAINED BETWEEN 10692-10931 FOR NIFTY BANK IT WAS 27335-27612 WHEREAS OUR EXPECTED RANGE WAS 10450-10900 & 26800-27900...!!!
SO MARKET PARTICIPANTS RESPECTED OUR RANGE TO LARGER EXTENT...!!!
WE ARE GOING TO START 1st WEEKENDBATCH ON TECHNICAL ANALYSIS & OPTION CHAIN OF 2019 FROM 26 JANUARY 2019 (THIS WILL BE 15th BATCH - 1st BATCH WAS STARTED IN FEBRUARY 2018). WE HAVE CREATED WHATSAPP GROUP FOR TRADERS WHO ARE INTERESTED TO PARTICIPATE FOR WORKSHOP. PLEASE CLICK HERE TO JOIN.
INCASE IF YOU WANT TO KNOW COURSE CONTENTS PLEASE CLICK ON HYPERLINKS
THIS IS BATCH WILL BE LAST WEEKEND BATCH IN WHICH OPTION CHAIN & OPEN INTEREST ANALYSIS SHALL BE DISCUSSED. AS WE HAVE PLANNED TO SEGREGATE TECHNICAL ANALYSIS & OPEN INTEREST WITH OPTION TRADING WORKSHOPS
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
NIFTY VIEW
Lets have look at Nifty Monthly Chart
Previous month low of 10333.85 shall be key level for this entire series.(We still hold same view) (Previous blog post comment) (We are still holding same view)
Lets have look at Nifty Weekly Chart
Close below 10620-10630 zone may lead to more fall till 10500 levels in quick time. (Previous blog post comment)
Nothing more is required to re-study or re-analyse at present.
Lets have look at Nifty Daily Chart
We had expected Pattern formation and it was obliged fully. Now next week is important for breakout or breakdown. (Previous blog post comment)
Pattern target incase of breakout (upside) 11280-11300 zone (conservative) whereas for breakdown (downside) 10280-10300 (conservative) BUT WE FEEL THAT BEARS MAY NOT BE ABLE TO GIVE CLOSE BELOW 10450 (Previous blog post comment)
Nothing happened significantly on either side. Infact another wedge formation can be seen but it is premature to analyse about breakout or breakdown but yes MOVES TILL 10980-11000 IS VERY MUCH POSSIBLE IN NEXT 5 SESSIONS.
IMPORTANT MOVING AVERAGES
Weekly 20, 50 & 100 EMA comes at 10783, 10673 & 10241 respectively.
SUPPORT & RESISTANCE 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 10700-11100
Nifty Bank View
Lets have look at Nifty Bank Monthly Chart
Not expecting previous monthly low to be retouched again in this calendar quarter. (We still hold same view) (Previous blog post comment)
FURTHER ARE EXPECTING NEW LIFE HIGH FOR NIFTY BANK IN THIS CALENDAR QUARTER. (REPEAT COMMENT) NO NEED TO RE-ANALYSE OR RE-STUDY AGAIN.
Lets have look at Nifty Bank Weekly Chart
EXPECTED RANGE 27200-28100
RECORDINGS OF OLD FREE WEBINARS CAN BE FOUND ON OUR YOUTUBE CHANNEL
NEXT WEEK RANGE 10700-11100
Nifty Bank View
Lets have look at Nifty Bank Monthly Chart
Not expecting previous monthly low to be retouched again in this calendar quarter. (We still hold same view) (Previous blog post comment)
FURTHER ARE EXPECTING NEW LIFE HIGH FOR NIFTY BANK IN THIS CALENDAR QUARTER. (REPEAT COMMENT) NO NEED TO RE-ANALYSE OR RE-STUDY AGAIN.
Some change has been made in Wedge formation. We are not expecting 27800+ levels in next week. (Previous blog post comment)
No need to re-study or re-analyse again.
Lets have look at Nifty Bank Daily Chart
Past week high may remain untouched next week. (Previous blog post comment)
Next 3 sessions important for Bulls to strike back for new life high in this calendar quarter.
IMPORTANT MOVING AVERAGES
Weekly 20, 50 & 100 EMA comes at 26627, 26074 & 24689 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.
No need to re-study or re-analyse again.
Past week high may remain untouched next week. (Previous blog post comment)
Next 3 sessions important for Bulls to strike back for new life high in this calendar quarter.
IMPORTANT MOVING AVERAGES
Weekly 20, 50 & 100 EMA comes at 26627, 26074 & 24689 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 27200-28100
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