NIFTY SPOT (Weekly Outlook ) by Bharat K Gala President, Technical Head, Ventura
Previous week it was mentioned that Our view is that Nifty can correct downside to the above-mentioned levels & traders should use any corrections an opportunity to buy.
Corrective levels below 26060 are (25785-25510)-25287-(25065-24750) as bounce back level.
If the trend is strong Nifty will not breach (25785-25510).
NIFTY reached a low of 25842.95 & bounced back.
Nifty made a high of 26310.45
Corrective levels area at (25851-25566)-25337-(25107-24780).
If trend is strong (25851-25566) will not be breached.
Above 26311 we open for 26500-26700 area.
Our view is that any minor correction at the above-mentioned levels should be used as an opportunity to buy for 26500-26700 area.
BANK NIFTY SPOT (Weekly Outlook)
Previous week it was mentioned that Our view is Bank Nifty can correct to above mentioned levels & Traders should use any corrections as an opportunity to buy.
If the trend is strong Bank Nifty will not breach the area (58023-57168). If these levels are breached one should wait for 56478-(55788-54804).
Above 58616 we open for 59550-61050—62540—63470 area.
Bank Nifty reached a low of 58649.50 & bounced back.
Bank Nifty made a high of 59897.50
DOJI Pattern is formed which suggests uncertainty.
Move above 59898 will suggest high probability of Bullish move
Below 58649 we may see minor corrections.
Corrective levels are (58418-57504)-56765-(56025-54972)
If the trend is strong Bank Nifty will not breach (58418-57504).
Above 59858 we open for 61050—62540—63470 area.
Above views are of the author and not of the website kindly read disclaimer
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