BANK NIFTY WEEKLY STUDY
Last week we mention that only below 12400 level we can see fall in bank nifty till the level is sustain it can look for bounce. As just see market not able to break this level and taken a good bounce in last session.
As per current chart development of bank nifty we can see that after some correction it able to give good bounce in last trading session, which can indicate that market is still buy on every fall.
As per the candlestick pattern it has made “MORNING STAR” candlestick pattern on chart with “DOJI” candle day before last session.
With the rsi it has created “POSITIVE DIVERGENCE” signal at upper levels, and rsi still having a scope to move into overbought zone, so if such thing happens then it will bring good momentum in price.
Now as per current chart development if bank nifty able to move above 12850 on closing basis then upside it can look for level of 13000-13350-13500 level, and even we can expect more up move if able to move above 13500 level.
As of now bank nifty having a good support range at 12400-12500 range, if any time able to break this range on closing basis then only we can look for some good fall till 11800-11400 level in coming time.
So for the coming week bank nifty having important resistance at 12850 and good support at 12500-12400 level, positional movement we need to see if market able to close beyond this given levels.
LAST WEEK CALLS PERFORMANCE
TATACOMM 304 to 318
MRF 23000 TO 23835
IFG RECT 75.50 TO 83.50
CALLS FOR CURRENT WEEK
Buy TORRENT POWER above 109 close sl 100 target 116-125-135
Buy THERMAX above 790 close sl 710 target 860-925-975
Buy TATAGLOBAL above 159 close then hold with sl 148 target 166-175
Buy JINDAL STEEL above 285 sl 265 target 305-335
Buy JSWSTEEL above 1070 sl 990 target 1150-1225
Buy ADANI PORT if close above 205 sl 185 target 225-247
Buy DBREALITY above 75 close sl 65 target 85-97
Buy TCI above 135 sl 115 target 155-170
Buy TVSSHRICHAK above 345 sl 315 target 375-415
Buy ASHAHISONG above 96 sl 80 target 125-147
Buy SYMPHONY above 780 add above 795 sl 690 target 880-950-1050
Buy MUTHOOTFIN above 187 sl 150 target 220-250-285
Buy DHANUKA above 265 sl 235 target 320-370
Buy FIEMIND above 440 sl 390 target 490-525