13 April 2018

NIFTY WEEKLY PREDICTION FOR 16 APRIL TO 20 APR 2018

CALLS GIVEN IN YESTERDAY'S POST  



WEEKLY RESISTANCE FOR NIFTY: 10471,10537,10561,10692
PIVOT POINT: 10430
WEEKLY SUPPORT FOR NIFTY :  10406,10340,10299,10233
WEEKLY CHART FOR NIFTY

















DAILY RESISTANCE FOR NIFTY: 10530,10547,10564,10599
PIVOT POINT:10493
DAILY SUPPORT FOR NIFTY :  10476,10459,10440,10422
DAILY CHART FOR NIFTY


Sensex opened the week at 33788, made a high of 34303, low of 33723 and closed the week at 34185. Thus the Sensex closed the week with a gain of 596 points. At the same time, the Nifty opened the week at 10354, made a high of 10359 low of 10347 and closed the week at 10495. Thus the Nifty closed the week with a Gain of 154 points. Indian shares rose for a seventh straight session on Friday, in what could be their longest winning streak since November 2017, on the back of gains in index heavyweights such as RIL and ICICI Bank. Sentiment was also upbeat after retail inflation eased to a five-month low in March
IT and TECk stocks led the gains as a weak rupee and hopes of positive quarterly results boosted investor sentiment. Investors await March retail inflation data due later today for cues about the economy.
                       Bank Nifty opened the week at 24045, made a high of 25225, low of 23985 and closed the week at 24990. Thus it closed the week with a gain of 329 points. As the bank nifty is managing to trade above its 22 and 55&200 days moving averages with the RSI of 57, one may expect the targets of 25500/25650 in the banknifty if it manages to sustain above the immediate support level of 25000/24900.
Technically, BANKNIFTY is still in positive zone but. Some profit booking can be ruled out at this point of time. BANKNIFTY would be considered weak only below 24900 levels for bank Nifty. until then every downfall is an opportunity to go long in the Bank Nifty. If bank nifty managed to close above 25300 levels. Or breaching this level. bank nifty would force it to move towards 25400-25500-25550-25650 levels.

nifty seen 55 ema (10380)as strong support level

As predicted by us in our last weekly report “NIFTY WILL TRADE ABOVE(55 DAYS EMA RESISTANCE LEVEL) 10380 POSITIVE RALLY IN NIFTY WOULD BE OPEN FOR 10520 and exactly same happened. They managed to pull nifty above the resistance levels of 10380 .and achieved all the target at 10520 and closed the week with made a high of 10527. And for now nifty will see  10450,10390 as support levels and 10530,10560 as a resistance level.                    
                               NIFTY have managed to take resistance at the very important level of 10530. Nifty will be in the positive zone a pull-back will seen above 10530 levels and positive rally in Nifty would be open for 10550, 10580, 10610, and 10630. On the other hand below 10450 downtrend open for 10420-10390-10365-10340-100300 for the Nifty.
The support for the Nifty is 10450-10420-10395 and the resistance for the nifty is 10530-10555-10590-10635 levels.               
TECHNICALLY SPEAKING.
          This week, the indices short-term average of 22dma Nifty – 10333 close above it. The indices continue to remain above the medium term average of 55dma Nifty – 10385 but above the long-term average of 200dma Nifty 10150. MACD and Price ROC are both positive and in buy mode. RSI (59) suggests bullish momentum. Thus the trend in the long term has remained bullish whereas the trend in the medium term timeframe continues to remain bullish.

1 comment:

  1. I ⅼike what you guys are սsually up too.
    This type οf clever work and coverage! Ⲕeep uρ the vеry ցood wοrks guys
    I've аdded you guys tߋ mmy oԝn blogroll.

    ReplyDelete