Last week we mention that bank nifty having good support at 11000 and resistance near 11600 and we can see moves in this range, still it able to move till 11515 from 11260 level, last week.
With the chart we can clearly see that bank nifty able to take support on trend line, and even RSI also taken support on trend line, but yet it not able to confirm this up move, as we mention earlier that its having good resistance at 11600-650 range.
As per chart we can see that bank nifty has developed small “ASCENDING TRIANGLE” on chart, so if it able to give close above 11600-650 range then possibly we can see movement till upper trend line level which is almost around 11800-12000 range.
But if bank nifty given any negative close near to 11600 level then down side it can try to test 11400-11250 levels.
Important levels we can consider for next week is 11650-11250 some wild moves we can expect beyond this range, till that time one can sell near resistance with small stop loss and buy near support if market gives range bound moves.
LAST WEEK CALLS MOVES
JAMMU AND KASHMIR BANK 1435 TO 1496.5
KTK 110 TO 115
HDIL 51.5 TO 56
RECLTED 216 TO 220
TATACOMM 300 TO 305
ONGC 287 TO 295
SHRIRAM TRANSPORT FIN 665 TO 680
LICHSFIN 210 TO 221
RAYMOND 295 TO 305
BOMBAY DYING 71.5 TO 78.5
NBCC 145 TO 160
TALWALKAR 160 TO 170
CALLS FOR THE CURRENT WEEK
Buy BBTC above 120.5 sl 108 target 130-145
Buy TIL above 153 sl 134 target 170-190
Buy KOLTE PATIL above 95 sl 80 target 110-135
Buy AARTI DRUG above 225 sl 190 target 260-285
Buy AMRUTANJAN above 138 sl 122 target 155-185
Buy PHILIPCARBON above 62 sl 48 target 78-90
Buy KWALITY above 31.50 sl 26 target 36.50-42
Buy PURVA above 84 sl 70 target 95-115
Buy ABAN above 395 sl 365 target 435-485
Buy APOLLO HOS above 950 close sl 850 target 1100-1250