Market Weekly Diaries May 7-12 2018

Bank Nifty closed at 25645, Markets were UP for the last week

How to position to trade for the coming weeks

Bank Nifty Support – 25580,25440,25350,25280,25210, & 25130

Resistance – 25660,25750, 25850,25950, 26080 & 26180

ICICI Bank & SBI Results will be out in the coming weeks

31543628_380440082464620_4911556606354784256_n

Bulls have to be a bit cautious for next 7 trading session on the upside

It could be trap or trend change –time will decide, professional traders, need to have patience and respect the price actions

Bulls-Magic Number for the week – 25820-860 on UPSIDE

Bears- Magic Number for the week – 25420-280 on Downside

 

With Karnataka Elections on the final stage, SBI & ICICI yet to announce the results.Markets will be a bit slippery on both the sides.

25050-25350-25850 is a tough range for bank nifty

Break of these levels and close for 2 weeks on either of the levels, will decide the trend for the markets for the next quarter

Example- 25050 has to be taken out by bears for at least for 2 weeks, if they need to come back to the contest

Bulls have to be taken out i. e 25850 for at least for 2 weeks if they need to show their strength going forward

Trade with less quantity on the upside

Trade from savings money

All the Best

Sagar U.S

Published by

Sagar U.S

Have all human nature like greed, fear, love, passion, compassion, but the latter qualities are my strength. Mission to create 1 Million Entrepreneurs !

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.