BANK NIFTY WEEKLY STUDY
Last week we inform about bank nifty that above 10750-800 range we can see up move till 11200 levels. And bank nifty after 10750 able to give move till 11187 which is almost, 437 points move as we mention.
Now with the current chart development of bank nifty we can see that its sustaining all its lows which given on trendline almost from 8400 levels it has given 5 upper bottoms on supporting trend line as we see in the chart.
Even bank nifty also developed “EVENING STAR” candlestick pattern last week, with doji candle and given breakout move above our mention levels.
Now we can see that it has developed “SYMMETRIC TRIANGLE” on chart and able to give one candle beyond the resistance level, even rsi also taken support on chart and able to move above resistance level now.
Now we can see that bank nifty is developing “ASCENDING TRIANGLE” pattern on chart so with this pattern we can see that its having major resistance level at 11250 now.
So with all above indication we can say than now bank nifty having resistance at 11250 level now, if able to give 2 successive close above this level then it can try to touch 11700-11900 levels in coming days, but if it give two negative bars at this resistance then it can again try to test down levels of 10950-10800-10400 also.
So for next week bank nifty having a neutral or mid-level of 11250 now above this up move and below this level still to expect fall.
Last week calls performance
ONGC 283 TO 300
TATA ELEXI 247 to 307
DE NORA 125 to 135
Current week calls
BUY JAIN IRRIGATION above 72 CLOSE SL 60 target 85-95
BUY GOVIND RUBBER above 18.50 CLOSE SL 12 target 28-35
BUY NMDC above 135 sl 122 target 150-170
BUY SSLT above 185 sl 165 target 200-225
BUY RELINFRA above 433 close sl 400 target 465-485
BUY AXIS BANK above 1160 close sl 1070 target 1265-1350
BUY RPOWER above 73 close sl 68 target 78-85
BUY ZEEL above 265 sl 245 target 285-310
BUY COMPUCOM SOFT if close above 11 then only hold sl 7.5 target 15-20-25-30
BUY RSSOFTWARE above 168 sl 140 target 185-210
BUY MAZDA above 110 close sl 85 target 125-145-165
BUY VA TECH VABAG above 545 close sl 485 target 580-625
BUY DHANUKA AGRITECH above 168 sl 140 target 185-210
BUY VIPIND above 63 close sl 50 target 75 -85-95
BUY JMFINANCIAL above 30 sl 25 target 35-40-50
BUY WARREN TEA above 210 close sl 170 target 240-325