NIFTY THIS WEEK
This week nifty traded in a tight range with negative bias and managed to close above the 5100 levels. Weekly Volume was low. Technically an indecisive pattern had formed in the weekly price chart.
Dow Jones this week traded in positive region a managed to close above 10100 levels. Volume was significantly increased comparing to last 11 weeks volume. Technically a bullish pattern had formed in the weekly price chart.
NIFTY NEXT WEEK
For next week trade, the 5140 and 4950 levels would be significant levels to be watched. The 5225 and 5275 levels would be a big hurdle for nifty to surpass. Would it happen then we may see 5400 levels next week. To my understanding, next week, I expect nifty to trade in a positive region.
Dow Jones, to my knowledge, too trade in a positive region next week. In my observation, technically, Dow had retraced 100% which had started from Feb. 12. Based on this, from hereon, I expect an up move going forward. The 10200 levels would be significant levels to be watched for next week.
Let’s see what happens next week.
NEXT WEEK TRADING RANGE
FOR UPMOVE 5140 – 5420
FOR DOWN MOVE 5140 - 4806
NIFTY TIPS
NIFTY LEVELS FOR MONDAY
As nifty closed in a positive zone with increased volume on Friday, we may expect the up move to continue. The 5140 and 4950 levels would be significant levels to be watched. The 5180 level we may expect some selling pressure and it would be a big hurdle to surpass. For Monday trade I expect nifty to trade in a positive region.
NIFTY LEVELS
BUY ABOVE 5120 T1 – 5145, T2 – 515170, T3 – 5200 STOPLOSS – 5105
SELL BELOW 5105 T1 – 4980, T2 – 4950, T3 – 4920 STOPLOSS – 5120
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