19 January 2018

NIFTY WEEKLY PREDICTION LEVELS & CHARTS FOR 22 JAN TO 25 JAN 2018

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WEEKLY OUTLOOK ON AXISBANK FOR 22 JAN -25 JAN 2018 CHECK OUT 

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WEEKLY RESISTANCE FOR NIFTY: 10841,10900,10945,10990
PIVOT POINT: 10782
WEEKLY SUPPORT FOR NIFTY :  10737,10692,10633,10574
WEEKLY CHART FOR NIFTY



















DAILY RESISTANCE FOR NIFTY: 10918,10960,10981,11002
PIVOT POINT:10876
DAILY SUPPORT FOR NIFTY :  10855,10834,10770,10687
DAILY CHART FOR NIFTY

NEW MONTH NEW YEAR AND NEW HIGH OF NIFTY 10918.15
Sensex opened the week at 34837, made a high of 35542, low of 34766 and closed the week at 35511. Thus the Sensex closed the week with a gain of 919 points or 2.65 per cent. At the same time, the Nifty opened the week at 10720, made a high of 10918 low of 10665 and closed the week at 10916 Thus the Nifty closed the week with a gain of 230 points or 1.99 per cent. On Friday, It was the seventh week of gains in a row for the markets. Benchmark indices as well as Nifty Bank touched another all-time high in late trade. The Sensex rallied 250.63 points or 0.71 percent to 35,510.92, and Nifty rose 108 points or 1  percent to 10,918. surpassing its previous life-time closing high of 10,873 hit yesterday. Intra-day, it touched an all-time high of 10,918.15, breaching the 10,900-mark for the first time. Benchmark indices as well as Nifty Bank touched another all-time high in late trade.

NIFTY HOLD LONG WITH SL OF 10770 
                             As predicted by us in our last weekly report “nifty will trade towards 10790” and exactly same happened rally of bulls was continuing in this week also. They managed to pull nifty above the support levels of 10500 .and achieved all the target of 10790 and closed the week with a new high of 10918. And for now nifty would see 10770,10665 as support levels and 10930,10970 as a resistance level.
                        Technically, Nifty is still in the positive zone. And still, suggest holding long positions in the market for now.So we still suggest hold long positions above 10770 levels and above 10930, positive rally in Nifty would be open for 10970, 11000, 11030, and 11100.
                         Nifty would be considered to have taken reversal from the positive trend only if it closes below 10790 levels. and below 10665 levels, Nifty would force it to move towards 10630-10600-10570-10530 levels in days to come.
Results next week:
22-Jan-2018
Asian Paints Ltd, Axis Bank Ltd, Havells India Ltd, Just Dial Ltd
23-Jan-2018
Crompton Greaves Consumer Electrical Ltd, Indiabulls Housing Finance Ltd, Indiabulls Real Estate Ltd, L&T Technology Services Ltd, PNB Housing Finance Ltd, Symphony Ltd
24-Jan-2018
Biocon Ltd, Canara Bank, Idea Cellular Ltd, Larsen & Toubro Ltd, Mahindra & Mahindra Financial Services Ltd, MphasiS Ltd, Pidilite Industries Ltd
25-jan-2018
Ajanta Pharma Ltd, Avenue Supermarts Ltd, DrReddys Laboratories Ltd, Jindal Steel & Power Ltd, LIC Housing Finance Ltd, Maruti Suzuki India Ltd, UPL Ltd
TECHNICALLY SPEAKING.
This week, the indices short-term average of 22dma Nifty – 10600 close above it. The indices continue to remain above the medium term average of 55dma Nifty – 10449 but above the long-term average of 200dma Nifty –9937. Thus the trend in the long term has remained bullish whereas the trend in the medium term timeframe continues to remain bearish.

1 comment:

  1. its very informative blog for news and trading tips,very helpful thanks for your efforts

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