BANK NIFTY WEEKLY CHART STUDY
Even we mention for bank nifty that it’s a time of consolidation so trading near weekly highs and lows can give you the better performance and output.
Now with the current chart development we can see that last week bank nifty given a good fall or correction.
It also look like a “ROUNDING TOP” with the support level in a range of 14300-14500 level.
Even bank nifty has given a “BEARISH ENGULFING” candlestick pattern on weekly chart this can also indicate that trend is slowdown at upper levels.
So for bank nifty our weekly support levels are 14700-14500-14300-14000 and upside resistance levels at 15100-15350-15550-15850-1600
According to this level one can try to take position near to support or resistance level with the small stop loss.
LAST WEEK CALLS PERFORMANCE
DEN 202 TO 227
TREE HOUSE 330 TO 352
DIL 580 TO 603
POLARIS 210 TO 225
Other calls still at levels one can even try them for next week too.
CALLS FOR CURRENT WEEK
Buy SEQUIENT above 280 sl 515 target 350-450-600
Buy INOX above 146 sl 135 target 160-185
Buy ANSAL PROP above 34.25 sl 30 target 38-42-45
Buy DABUR above 193 close sl 180 target 205-225
Buy IGL above 326 sl 310 target 335-350-385
Buy TVTODAY aboe 156 sl 140 target 170-190
Buy REDINGTON above 108 sl 100 target 118-125