Bank Nifty Weekly Analysis 16th March to 22nd March 2018

Bank Nifty weekly expiry closed at 24792, Up 1.28% for the week

 

The Following levels for the coming week

Support – 24470, 24330, 24050, 23880 & 23660

Resistance –24560, 24740, 24910, 25050, 25195 & 25350

After 6 weeks, of downside, BNF comforted Bulls for a week with marginal upside

But the coming week expiry have started towards bears side

Anything below 24560 Bears will have clear control for the week

Out of 5 days (i.e. weekly expire timeframe is 5 days)

1st day (Friday) has been gone to bears side

2nd and 3rd (Monday & Tuesday) bears have to close below 24560 and also break 24330 if they do so 24000-23880 gates are open

If bulls show resilience and don’t allow to break 24330, bears will have tough chances to break the low of this month

On the upside bulls have to take out 24790, 24850, if they do so gates are open for 25050-25290

Take day by day, & just observe the markets and learn from it

Trade less

Trade from Savings money

Overtrading is the first step to Loss

Risk management is the first step to Profit

Execution of the plan is the ONLY Magic in Markets

All the Best

Sagar U.S

Stocktale

Founder