NIFTY THIS WEEK
This week nifty traded in a tight range with positive bias. Volume was rather good. Technical indicators are positive. Nifty managed to close above the psychological mark 5000 levels.
Dow Jones traded in a tight range with negative bias. However, it closed below the crucial resistant 10200 levels. Technical indicators are rather positive.
NIFTY NEXT WEEK
As nifty continually descended for past 4 weeks we may see an up move this week. First half of the week we may see a tight range trade and in the second half there will be an up move. To my knowledge, technical indicators suggest an ahead.
Dow Jones too had seen a continual selling for the past 5 weeks, however it could not able to close above the crucial resistant 10200. Still, technical indicators signal an up move going forward.
Let’s see what happens next week.
NIFTY TRADING RANGE
FOR UPMOVE 5050 – 5275
FOR DOWN MOVE 5000 – 4850
NIFTY MONDAY
As nifty futures open interest had declined considerably we may see a tight range trade with positive bias. 5050 and 975 levels are the crucial levels to be watched for the Monday trade. Let’s see what happens on Monday.
NIFTY TIPS
BUY ABOVE 5035 T1 – 5060, T2 – 5085, T3 – 5110 STOPLOSS 5018
SELL BELOW 5018 T1 – 4885, T2 – 4855, T3 – 4830 STOPLOSS 5035
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