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NIFTY SPOT (Weekly Outlook)

25795.15

Previous week it was mentioned that Our view is Bullish & our View is above 25781 opens 26277 & further 26500-26700 area.

Nifty made a high of 26104.20.

The Corrective levels are at  (25687-25429)-25220-(24012-24715) should be used to buy.

If the trend is strong Nifty will bounce back from (25687-25429) or wait for further down levels at 25220-(24012-24715) as bounce back level.

Above 26105 We can test Sept 2024 high at 26277.

The pattern suggests Nifty has opened for 26500-26700 area.

Our view is possibility of minor correction to the levels mentioned above and should be taken as opportunity to buy.

The 200 SMA is at 24269.

BANK NIFTY SPOT (Weekly Outlook)

57699.60

Previous week it was mentioned that Our view is bullish & Traders should expect Bank Nifty to test 59000-60000 area, and any intermediate fall should be used to buy.

Bank Nifty reached a high of 58577.5.

The Corrective levels are at (57355-56628)-56040-(55455-54620).

If the trend is strong Bank Nifty will bounce back from (57355-56628) or wait for further down levels at 56040-(55455-54620) as bounce back levels.

The pattern suggests Bank Nifty has opened for 59000-60000 area.

Our view is possibility of minor correction & Traders should use the fall at above-mentioned levels as buy opportunity.

The 200 SMA is at 53608.

All the calls/opinions are subject to Disclosures and Disclaimer http://goo.gl/8bCMyQ

SMS subject to  Disclosures and Disclaimer goo.gl/8bCMyQ

SEBI Registration No.: INH000001634