BANK NIFTY WEEKLY STUDY
As per the bank nifty chart last week we mention that above 12700 we can see upper move and as per that bank nifty able to hit our 1st target level of 13000 last week, made high of 13056 almost.
Now as per current chart development we see that at bottom it has given a couple of “DOJI” candles, with a formation of “MORNING STAR” also at recent bottom, after a up move it made “DOJI” candle at upper level with a formation of “EVENING STAR” pattern on chart.
Overall rsi has also form a “NEGATIVE DIVERGENCE” at upper level, but still need to wait for a confirmation till it give proper indication on chart.
So overall if bank nifty able to move below 12400 level on closing basis, then only we can see down fall till 12000-11800 or more also, but if we see any bullish pattern formation near to 12400 level again then it can lead for a bounce in bank nifty till level of 13000-13350-13750-14250 also.
So remember 12400 is key level for upcoming days on closing basis, which can keep capabilities of confirming direction of market.
LAST WEEK CALLS PERFORMANCE
RELINFRA 465 TO 520
INDIA CEMENT 67 TO 74
LICHSFIN 250 TO 272
GULFOIL 116 TO 126
Some other calls given last week are not trigger or still at cost, so one can carry same calls till we get one movementum in call or till it not hit stop loss on closing basis.
CALLS FOR CURRENT WEEK
Buy GITANJALI in a range of 65-68 sl 57 target 75-82-89
Buy COROMANDEL above 232 closing basis sl 215 target 265-285
Buy TATACOMM above 304 sl 287 target 315-325-335
Buy MRF above 23000 close sl 21500 target 25000-27000
Buy IFGL RECT above 75.50 close sl 50 target 110-125-148
Buy ARIES AGRO above 68 close sl 53 target 85-97-125
Buy TAJGVK above 74 close sl 65 target 90-110