NIFTY BANKNIFTY WEEKLY ANALYSIS 25 JAN
---- WEEKLY ANALYSIS 25 JAN ---------------
NIFTY & BANKNIFTY both had a bearish close, Banknifty more so witha close below previous week. Last week was also very interesting where we did both the upside and the downside targets for NIFTY and BANKNIFTY.
Key Play will be consolidation and downside continuation until we hold below the weekly trend deciders.
NIFTY Futures : Weekly Trend decider at 14580. This forms the reference for a bias ( bullish / bearish )
1. Short in rise on pullbacks to the zone or for hold below prev week lows.
2. BUllish bias on hold above for move back to jan highs at 14780F
BANKNIFTY Futures: Weekly Trend decider at 31630F areas.
1. Use pullbacks to short for a test of 31300/ 30770F
2. Hold abv 30740F for a move to 32200/32500
Note : other key downside references are marked on the right with markers.
NIFTY & BANKNIFTY both had a bearish close, Banknifty more so witha close below previous week. Last week was also very interesting where we did both the upside and the downside targets for NIFTY and BANKNIFTY.
Key Play will be consolidation and downside continuation until we hold below the weekly trend deciders.
NIFTY Futures : Weekly Trend decider at 14580. This forms the reference for a bias ( bullish / bearish )
1. Short in rise on pullbacks to the zone or for hold below prev week lows.
2. BUllish bias on hold above for move back to jan highs at 14780F
BANKNIFTY Futures: Weekly Trend decider at 31630F areas.
1. Use pullbacks to short for a test of 31300/ 30770F
2. Hold abv 30740F for a move to 32200/32500
Note : other key downside references are marked on the right with markers.
Comment:
BANKNIFTY 600 point move from the trend decider at the open
