free nifty weekly tips and analysis
Nifty this week closed with gain. This week nifty low was around 8320 while high was at 8550. Total 230 points weekly range and positive closing and recovery after last week’s correction.
On weekly chart, nifty resumed uptrend and taken support of major averages and also gives weekly closing above them. Which is bullish as well as medium term buy signal. For next week, nifty future outlook remain bullish. On upside 8735 and 8840 are strong resistances as well as target zones for next week. On downside, 8395 and 8370 are strong support zones as well as stop loss for positional and swing traders.
This rally has potential to test 8900 levels so keep buy and accumulate view above 8300.
8440 is stop loss level for near term traders, future traders and option trader’s long positions.
Banknifty this week closed with gain. This week banknifty low was around 18174 while high was at 18828. Total almost 700 points weekly range and strong recovery in his index after last week’s profit booking or correction. On weekly chart banknifty had taken support of major average and resumed uptrend. This is bullish sign for banknifty from medium to long term view.
For next week, banknifty outlook remain bullish. On downside 18200-18100 are strong support zone. Above it keep buy on decline view. On upside 19100 and 19450 are resistances as well as medium term targets. On upside 19600 is major supply zone and investors must watch that level for long term breakout.