Nifty for coming week from 03/04/2017 to 07/04/2017

posted by Paritosh on Mon Apr 03, 2017 03:44 am


As suggested last week, that Nifty has strong support at 9020 levels, Nifty exactly after opening for week at 9093.34 made a low of 9024.65 and turned around to make a high of 9191.70 (9190 was suggested as resistance) and closed near weeks high at 9173.75.

Now going ahead for the week, Nifty will continue facing resistance in the range of 9190-9220 and may for one or two trading sessions will trade in the range of 9120-9220 and going further the possibility of Nifty giving positive break-out is higher and once Nifty crosses 9220 and hold the same we will see Nifty showing new all time high and may test levels around 9320-9450..

So concluding, See dips around 9150-9120 as buying opportunity with stop-loss at 9080 for the week.
Below 9080 again Nifty will try to test 9020-8980 levels ..

Option data as of now suggests that 9000-9200 is the range for first half of the week and if break above 9220 and maintains than the next range will be 9200-9500.

Note: All the levels mentioned above are spot levels. 

posted by Jadhav on Mon Apr 03, 2017 04:06 am


Paritosh bhai.

Nice thread "coming week" analysis,  very interesting and helpful for the intra and positional traders will help to eye on the undercurrent of mkt on higher tf............NP rocks.