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BANK NIFTY WEEKLY CHART STUDY

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BANK NIFTY WEEKLY CHART STUDY

For whole month we told you bank nifty level of 14700 and this time it able to break this level and able to made next move till 14400 level.

So as of now it able to break the consolidation range of almost 1000 points, now one possibility we can see is, bank nifty had a gap at a level of 14350-70 range and recently it made low near to this level only, so for next trend decision we need to see the chart development near to this gap range.

At this level on chart we can see that price and rsi both has been weak on chart now, and there is also a long bearish candle on weekly chart.

So as per the chart development we can see that 14300 is key level for current week, if able to move and close below this level then we can see down side 14000-13800-13500 levels also.

But if we can see some bullish or reversal pattern near to this range then we even can expect a sharp reversal in bank nifty till 14650-14800-15100 level also.

As it has given close near to good support level or range so one has to consider both the views seriously and need to act on it with timely manners.

Last week we seen some calls performing and some hitting sl, it was due to high volatile moves due to last week even.

CALLS FOR CURRENT WEEK

BUY LUPIN ABOVE 1075 SL 1045 TARGET 1097-1125

SELL CESC BELOW 625 ON CLOSING BASIS SL 655 TARGET 600-570

SELL BHEL BELOW 220 SL 235 TARGET 205-190

SELL ADANI PORT BELOW 244 SL 265 TARGET 225-210

SELL UCO BANK BELOW 94 SL 102 TARGET 88-82

Please note with the current volatility of market we can see big moves in stock either side so there are many stock which can even reverse for can fall big from current point, but for such calls we need to track and trace them in live market, so when market is such volatile we might not able to provide you good number of calls, because tracking them in live market is highly important when range is big.

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