stock market weekly forecast for 1-5 april 2013

Nifty weekly forecast for 1-5 april 2013

Nifty spot index this week closed at 5682 with this truncated week we seen low near 5630 while high was near 5700.after last weeks sharp fall in this week some short covering and value buying near support lifted mood.

on weekly chart,we can see  nifty given reversal from 12 month average of 5620 and moving towards 6 month average of 5765 which will be target for next week.on indicators nifty weekly rsi is 46 and still bearish and cci is –142 and in oversold zone.for traders and investors it is investing opportunity and with closing basis stoploss below 5600 expect 5765 to 5820 in next week.

in supporting environment we can expect this short covering rally may show 5900-5950 in next 2-3 weeks time frame.while below 5600 long term trend will get disturbed and expect 5400 to 5250 as positional targets and very bearish sentiment.


Bank Nifty weekly forecast for 1-5 april 2013

bank nifty spot index this week closed at 11361 with gains.this week bank nifty made low at 11048 while high was 11413 and closed near it and above 12 month average level also which suggest reversal.

on weekly chart trading above 12 month average of 11330 and heading towards 6 month average 11780 which will be target for next week.for next week above 11300 on closing basis hold long view and expect 11780 to 12000 as upside target levels,below 11300 will start major correction and trend will turn down.below 11330 next major support is 10760 which is 2 years average.

on weekly chart,bank nifty rsi is at 44 and still bearish while cci is –130 and trending short covering rallies may show sharp and big run and may outperform nifty and sensex in next week?


Sensex weekly forecast for 1-5 april 2013

sensex spot index this week closed 18835 with loss.this week we seen low near 11568 while high was at 18950 and closed near it.this week sensex touched 12 month average of 11570 and closed above it with recovery.look like taken support and moving towards 6 month average which is at 19050.

for next week traders and investors keep positive view with stoploss below 18550 and expect 19050 to 19400 as upside targets.below 18550 long term trend become bearish and sensex may show up 18100 to 17800 levels on downside.18050 is 2 years average support on downside.

on weekly chart,sensex cci si –136 and looks oversold while rsi still be 50 and with bearish divergence.

The Author

Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
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