PAST WEEK MOVES WERE NOT IN LINE AS PER OUR EXPECTATIONS SHARED IN LAST WEEKLY BLOG POST BUT IN LAST DAILY BLOG POST WHATEVER WE HAD DISCUSSED MARKET PARTICIPANTS DID NEEDFUL DURING TRADING SESSION.
NOW IF WE DISCUSS ABOUT LAST WEEK RANGE FOR NIFTY IT REMAINED BETWEEN 10814-11118 FOR NIFTY BANK IT WAS 26825-27590 WHEREAS OUR EXPECTED RANGE WAS 10500-11000 & 26500-27500...!!!
SO SOMEHOW WE MISSED TO PREDICT RANGE FOR BOTH INDICES TO CERTAIN EXTENT.
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NOW IF WE DISCUSS ABOUT LAST WEEK RANGE FOR NIFTY IT REMAINED BETWEEN 10814-11118 FOR NIFTY BANK IT WAS 26825-27590 WHEREAS OUR EXPECTED RANGE WAS 10500-11000 & 26500-27500...!!!
SO SOMEHOW WE MISSED TO PREDICT RANGE FOR BOTH INDICES TO CERTAIN EXTENT.
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
Past week being 2 big events (Expiry & Budget) we are ignoring moves below rising wedge trendline. Nothing significant can be found at present. (Previous blog post comment)
Rising wedge formation can be seen but we are not considering same as it is in expanding wedge formation which is in consolidation mode.
Lets have look at Nifty Daily Chart
ANY CLOSE BELOW 10650 MAY LEAD TO MORE FALL OF 150 POINTS IN QUICK MOVE...!!! (SAID LOUD AND CLEAR FOR PAST WEEK) BEARS MANAGED LOW BELOW 10650, 3 TIMES IN ROW BUT BULLS MADE REMARKABLE ENTRY IN LAST 2 SESSIONS OF WEEK) (Previous blog post comment)
For next week we feel that supply zone (10985-10957) & demand zone (10652-10584) shall important role. (Previous blog post comment)
Perfect wedge formation can be seen. Now going forward closing basis 10700 shall key levels for market participants.
IMPORTANT MOVING AVERAGES
Weekly 20, 50 & 100 EMA comes at 10808, 10696 & 10278 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 10700-11200
Nifty Bank View
Lets have look at Nifty Bank Monthly Chart
FURTHER ARE EXPECTING NEW LIFE HIGH FOR NIFTY BANK IN THIS CALENDAR QUARTER. (REPEAT COMMENT) NO NEED TO RE-ANALYSE OR RE-STUDY AGAIN. (REPEAT COMMENT)
NO NEED RE-STUDY AGAIN
Lets have look at Nifty Bank Weekly Chart
EXPECTED RANGE 26400-27700
RECORDINGS OF OLD FREE WEBINARS CAN BE FOUND ON OUR YOUTUBE CHANNEL
NEXT WEEK RANGE 10700-11200
Nifty Bank View
Lets have look at Nifty Bank Monthly Chart
NO NEED RE-STUDY AGAIN
Big Doji candle shows good fight between Bulls & Bears..!!! (Previous blog post comment)
Wedge formation can be seen.
Lets have look at Nifty Bank Daily Chart
27500 wont be crossed in next week on closing basis but on downside 26500 must act as strong support (Previous blog post comment)
Expectation was 27500 wont be cleared on closing basis. On Thursday 27589.75 high was made but Bulls failed to close above 27500.
IMPORTANT MOVING AVERAGES
Weekly 20, 50 & 100 EMA comes at 26768, 26198 & 24834 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.
Wedge formation can be seen.
Lets have look at Nifty Bank Daily Chart
27500 wont be crossed in next week on closing basis but on downside 26500 must act as strong support (Previous blog post comment)
Expectation was 27500 wont be cleared on closing basis. On Thursday 27589.75 high was made but Bulls failed to close above 27500.
IMPORTANT MOVING AVERAGES
Weekly 20, 50 & 100 EMA comes at 26768, 26198 & 24834 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 26400-27700
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