Bank nifty closed the week on positive note after making intraday high of 15745 bank nifty closed the week at 15828.30. Now week starting from 25 August 2014, Monday 15695 is the support for bank nifty. If market is unable to sustain below this level and cross 15775 expect a rally for 16000 and higher in coming sessions.
Nifty future closed the week on a positive note on weekly chart. Nifty future closed Friday’s trading session at 7803.70. Nifty future has been consolidating in a sideways horizontal range with just around the breakout. There is a huge possibility of a big rally in coming days if the breakout sustains nifty future is heading for 8000-8100 levels soon. 7835 Hurdle once sustain close base bulls will shoot up vertical rally.
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Technical Update : Nifty Future has been facing stiff resistance at 7830 levels. As updated in previous nifty future report weekly view 7745 below bear’s got active and market cracked to 7611.25. Global weakness was one of the added reason’s for the steep fall on Fridays trading session in market. Going ahead in coming […]
Price action still suggest a buy in dips market as bulls come at every support with buying. No major correction has been seen this past week. Short term traders watch 7790 and 7745 levels. Bias for the week will remain positive once 7790 above market sustains. Bears will be active if nifty future close below 7745 .
Petronet LNG closed strong day on day bullish, with an outside bar bullish reversal candle on weekly charts. The stock is in strong momentum month on month and is be up 6 continuous months this year.
Nifty Future breakout from a rising wedge and made lows of 7445 this past week and made the Intraday high of 7692 and closed the week at 7669.35. For week starting Monday 21 July 2014 Nifty Future Will face stiff Hurdle at 7710 once sustain this level expect a rally towards 7750 7800 in coming days. The support for market is at 7645 7615. The 50 day SMA is @ 7489