20 June 2015

NIFTY TECHNICAL REPORT & DAILY CHARTS FOR NEXT WEEK 22-06 -2015

DAILY RESISTANCE FOR NIFTY: 8269, 8292,8358,8424
PIVOT POINT: 8226
DAILY SUPPORT FOR NIFTY :  8203, 8160, 8094,8028
DAILY CHAT FOR NIFTY:  

WEEKLY RESISTANCE FOR NIFTY: 8242, 8327,8561,8795 
PIVOT POINT: 8093
WEEKLY SUPPORT FOR NIFTY :  8008, 7859, 7625,7391
WEEKLY CHAT FOR NIFTY:

















Sensex extended its gain for sixth day in a row on Friday and rose 200 points or 0.74%  to close at 27,316. The Nifty gained 50 points or 0.62%  to end at 8,247. Sensex ended 3.3 per cent higher, while Nifty closed 3.03 per cent up for the week ended June 19. I would look at a retest of 8,200 on Nifty on the upside. It is a very important level on the medium term charts. To begin with, I will start with a positive bias. Once Nifty gets past 8,080, we would possibly be adding long positions. If 8,200 is crossed later, then we may be in for some short-term up move, other than a pullback or a short coverings rally. "There is a degree of expectations that with good monsoons the RBI might reduce interest rates in September-October.so may be positive interest in banking, automobile, capital goods, and oil & gas stocks.
Technical analysis for Nifty
In last previous sessions, as we have predicted that in NITTY BULLS CAN MOVE TOWARDS 8300 And nifty was almost achieved target of 8300 made high of 8250 in this week. Nifty was taken strong support of 7930. then Nifty was up 260 points, or 3.2 per cent, at 8237 and bank nifty was up 2.1 percent at 17871. Good monsoon start and up move in global markets kept the investor mood positive. A strong trend at other Asian markets following a record closing at US markets yesterday despite the Greek stalemate helped. The week passed by gave a positive surprise to Bulls and disappointed the hardcore Bears of the market. Technically Nifty future is looking bullish on long term weekly charts till 8300,and nifty breach 200 DMA as a resistance level of 8227 on Friday. But still it can be bearish also because there is a strong resistance level of 8327/8358 and upcoming expiry of F&O on 25 June 2015, 
ABOVE 8327 IT IS BULLS AREA
BULLS CAN MOVE TOWARDS 8400 AND 8450
BEARS ARE ALSO CAN BE ACTIVE
BELOW 8227 BEARS HAVE TARGET AT 8150 AND AT 8100

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