Bank nifty weekly study
Last week we mention that bank nifty having support at 10000-9950 before this level no fall to see, and resistance in a range of 10300-400 above this we can see good bounce, and just see above this range bank nifty able to made till 10630 level in last week.
Now in a last week we can see that bank nifty exactly move near to resistance level now, and look at the development of rsi, looking very interesting, price yet not move above recent resistance point but rsi able to cross the resistance so there is a development of “POSITIVE CONVERGENCE” on chart now, so market is near to the level now, where it can decide the trend.
As per the candlestick patterns it has given a “BULLISH HARAMI” candle in last week.
So over all technical study indicate that, bank nifty having a good resistance at 10650 level now, if able to give close above this level for two trading session then only we can see up move till 10800-11000 levels.
But if able to give negative close or red candle near to 10600-650 range and next day if it break the low of previous red candle then we can expect a fall till 10250-10000 again, now major trend deciding levels will be 9950 and 10650 for bigger moves.
Last week calls
Last week only our call Tata motor able to do till 398 from 390 other calls not trigger the levels.
Calls for current week
Buy SYMPHONY above 518-20 range if close above then hold for target 560-625-650 with sl of 470
Buy DIVIS LAB in a range of 1400-1420 add more above 1430 sl 1335 target 1550-1650-1800
Buy CYBERTECH above 31 close with sl at 25 target 38-50 {if close above 31 then only hold}
Buy BALKRISHNA IND above 415 close sl 380 target 470-550 if close above then hold delivery
Buy HINDPETRO above 255 close sl 230 target 270-297
Buy TVTODAY above 123 add more above 129 sl 115 target 170-200-250 {it should close above 129-30 level for two trading session for big move}
Buy DHANUKA above 211 add more above 220 if close above 220 then hold delivery with sl of rs. 175 target 260-290-325
Buy TTKHELTH above 500 sl 475 target 535-565