NIfty weekly prediction for 25th july to 29th july 2016

Nifty made 7th time Bearish harami patterns on daily chart from last low 6825. Bearish harami is made up of two candlesticks .Bearish harami The first has a large body and the second a small body in other words we can say that large bullish green candle on Day 1 followed by a smaller bearish or bullish candle on Day 2. this pattern is considered to be a signal of trend reversal, it indicates that the bull is weakening and there is a possibility of bear to take over the market. And in other aspects when I have taken extention level from low 6825 to high 7978 low 7715 then we get 61.8 retracement value that is 8520 and nifty still closes above this today at 8565 that is also loking postive but when we draw price channel then we can clearly see that nifty is still unable to close above this channel price not able to sustain. So make trade accordingly  and remain cautious and book profit time to time.

NIFTY SPOT CLOSED @ 8541

5DMA@ 8531
20DMA@ 8419
50DMA@ 8419

WEEKLY EXPECTED RANGE IN NEXT WEEK FOR NIFTY

RESISTANCES: 8594,8650,8733

SUPPORTS: 8479,8405,8351,8332

this is for my study purpose not for trading..

BankNIfty weekly prediction for 25th july to 29th july 2016

Bank Nifty made 5th time Bearish harami patterns on daily chart from last low 13519. Bearish harami is made up of two candlesticks .Bearish harami The first has a large body and the second a small body in other words we can say that large bullish green candle on Day 1 followed by a smaller bearish or bullish candle on Day 2. this pattern is considered to be a signal of trend reversal, it indicates that the bull is weakening and there is a possibility of bear to take over the market. But it needed conformation on next candle so that trend will be confirm.

BANKNIFTY SPOT CLOSED @ 18706

5DMA@ 18770
20DMA@ 18414
50DMA@ 17809

WEEKLY EXPECTED RANGE IN NEXT WEEK FOR BANKNIFTY

RESISTANCES:19137,19725

SUPPORTS: 18896,18563,18335

Nifty made Bearish harami pattern

Nifty made 6th time Bearish harami patterns on daily chart from last low 6825. Bearish harami is made up of two candlesticks .The first has a large body and the second a small body in other words we can say that large bullish green candle on Day 1 followed by a smaller bearish or bullish candle on Day 2. this pattern is considered to be a signal of trend reversal, it ndicates that the bull is weakening and there is a possibility of bear to take over the market. And in other aspects when I have taken extention level from low 6825 to high 7978 low 7715 then we get 61.8 retracement value that is 8520 and nifty still closes above this today at 8565 that is also loking postive but when we draw price channel then we can clearly see that nifty is still unable to close above this channel price not able to sustain. So make trade accordingly  and remain cautious and book profit time to time.if nifty closes above this price next next stop will be 8626,8733. and support will be 8477,8407.
this is for my study purpose not for trading..

NIfty weekly prediction for 18th july to 22nd july 2016

                                                 5EMA@ 8507

                                                 20EMA@ 8346

                                                 50EMA@8163

                                                 100 EMA@ 7995

Nifty managed to closes at 8541.Nifty looking so strong on monthly chart as it is still providing closing with strong green body on monthly continuously fifth month and current month still looking so strong. If we talk about weekly chart Nifty  made an opening white body marubuzo which is bullish pattern, and on daily chart Nifty has formed bearish harami which is bearish reversal pattern which requires confirmation  like if on Monday real black candle will confirm reversal, so we can say that monthly and weekly  chart  is looking so strong  but on daily chart is looking bearish bias as we already know that nifty managed to close above 61.8 retracement level from 9119 to 6825. If we talk about option data of july series maximum open interest is on 8700 CE and highest open interest is added on 8400 PE which can act as support and resistance. So finally we can conclude that remain in trend and use buy on dip strategy and anyone going against the trend book profit time to time.

NIFTY SUPPORTS:  8491,8451

NIFTY RESISTENCE: 8626,8651

This is for my study purpose not for trading, kindly use your own for trading thanks.

NIfty weekly prediction for 14th july to 15th july 2016

WEEKLY EXPECTED RANGE IN THIS WEEK FOR NIFTY 

5EMA@8447
20EMA@8229
50EMA@8130

Nifty spot  supports are 8475,8445,8407
Nifty spot Resistence are 8550,8626


kindly use correction for buy beacause trend is in buying..thanks

BANK NIFTY WEEKLY PREDICTION FOR 4th July to 8th July 2016

Bank Nifty completed Hanging Man pattern on monthly chart previous month , Hanging Man is bearish single reversal candelistick pattern in uptrend which requires confirmation on next candle. The long lower shadow of Hanging man is generally is bullish signal and buyers are more aggressive. Hanging man formation does not mean that bulls have lost control ,So confirmation of trend reversal is required and it can be identified when next candle closes below the real body of Hanging man or another trend reversal patterns like engulfing pattern or piercing pattern. Bank nifty has gap down on daily chart with range 18118-18219 so above closing will be good for bulls in next week and below this gap down again correction can be seen so trade in this given range:

BANK NIFTY SPOT CLOSED @ 17985

5DMA@17811
20DMA@17643
50DMA@17209

WEEKLY RANGE IN NEXT WEEK FOR BANK NIFTY

SUPPORT 17857,17713,17412,16886

RESISTANCES 17993,18200,18889

NIFTY WEEKLY PREDICTION for 4th July to 8th July 2016

Nifty completed Hanging Man pattern on monthly chart previous month , Hanging Man is bearish single reversal candelistick pattern in uptrend which requires confirmation on next candle. The long lower shadow of Hanging man is generally is bullish signal and buyers are more aggressive. Hanging man formation does not mean that bulls have lost control ,So confirmation of trend reversal is required and it can be identified when next candle closes below the real body of Hanging man or another trend reversal patterns like engulfing pattern or piercing pattern. But I would like to make u clear that previous to previous nifty made Spinning top bearish candle on weekly chart means Real body is small on weekly chart and wide range of price movement throughout trading week. Means after uptrend a prolonged uptrend bulls are losing interest as per weekly chart analysis and reversal may be come soon but last week nifty made so strong green candle with stong real body. next week trade in this given range:

NIFTY SPOT CLOSED @ 8328

5DMA@8246
20DMA@8175
50DMA@8038

WEEKLY EXPECTED RANGE IN NEXT WEEK FOR NIFTY

SUPPORT 8221,8109,8050, 8005

RESISTANCES 8444