Nifty
& Bank Nifty view for the next week...
As we seen from last 2 week’s “Nifty & Bank Nifty” are continuously trading in uptrend due to
some Indian political activities. May be this rally will continue in this week
also or some profit booking will
happening in market. Let see technical view
of “Nifty & Bank Nifty.”
Nifty Daily Chart :
In the last week Nifty given breakout
& sustained above weekly trend
line resistance. And this resistance became strong support for Nifty. On
Friday Nifty closed above small resistance of 11600 & made Dragonfly Doji on daily time frame. My
view is that Nifty may continue this rally in this week also and it will show
11760 i.e. next resistance as well as life
time high of Nifty. Riskers can buy here with stop-loss of Friday’s low i.e. 11570 or buy on dips till 11500-11550.
In last week all private as well as public sectors bank leads
to Indian market & shown new life time high in Bank Nifty. Now Bank Nifty
is in strong up trend, there is no hurdle on chart.
Bank Nifty Daily Chart : Bank
Nifty given breakout to weekly trend
line & closed above resistance, also made new life time high. After
some profit booking in all banks Bank Nifty made “Morning Star” on daily chart near weekly trend line support &
given bounce back and made again new
life time high i.e. 30500. On Friday made red hammer on day chart. So my view on
Bank Nifty is that riskers can buy here with stop-loss of Friday’s low
i.e. 30235 or buy dips till 30000
(previous support).
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Email: rajputsagar111@gmail.com
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Disclaimer:
We are not SEBI registered analyst. All calls or articles are study purpose
only. Please add your own analysis then trade at your own risk.
