BANK NIFTY TECHNICAL CHART STUDY
Almost from past 2-3 month we are telling you all that bank nifty will perform better than nifty as there was divergence between these two indices and just see exactly happen same bank nifty given bigger move than nifty index.
We even inform in our recent post that moving and closing above 13500 level can give big breakout in bank nifty and just see exactly happen same on charts it able to hit till 15743 level.
With the current chart development we can see that there is a “EVENING STAR” and “GRAVESTONE” doji candle development on bank nifty chart, and still there are two gaps pending of last week.
So as per chart its having support at 14300 level now, if able to close below this level then we can see downside levels till 1400-13700-13300 also in coming days.
But if bounce is taken from support or if able to give green candle on support the upside we can see 14800-15200-15800-16500 levels in coming days.
Even rsi is on highly overbought zone now, so either we can see consolidation with the consideration of support levels or it can be a correction of rise, so wait till things get settle on chart and then to decide about the next direction of the market, as the range is too much big at the point so fresh levels must be able to develop now for the next action to take place.
LAST WEEK CALLS PERFORMANCE
BHEL 196 TO 235
ADANI PORT 215 TO 235
ONGC 350 TO 416.50
SHRIRAM CITY 1305 TO 1425
VOLTAS 160 TO 188
LICHSFIN 280 TO 327
CROMPTON 176 TO 185
GSPL 76 TO 80
ASTRAMICRO 73 TO 88.50
VOLTAMP AND DCMSHRIRAM STILL IN HOLD
CALLS FOR CURRENT WEEK
Buy SSLT sbove 220 close sl 185 target 260-285
Buy TTKPRESTIGE above 3220 close sl 3000 target 3650-4200
Buy HINDCOPPER above 85 sl 70 target 95-115
Buy STC above 220 sl 200 target 245-270
Buy CUMMINS 540-570 range sl 500 target 650-720
Buy PATELENG at 80 and also above 85 sl 65 target 105-125
Buy HSIL above 210 close sl 175 target 250-285-325
Buy GREAVES COTTON above 95 close sl 84 target 115-135
Buy BFUTILITI above 730 close only sl 540 target 900-1150-1350
Buy DALMIA BHARAT above 200 close sl 170 target 240-285
Delivery buy ORIENT PAPER in a range of 20-24 safe players can add above 26.50 close sl 10 target 55-85-125