Finally the bulls seem to be having their way after weeks of mayhem on the street by the bears. However if this is for real or no would be a crucial point to watch in the coming week. The Nifty and Nifty bank bounced back from demand zones of 10863 and 27840 respectively, as mentioned in the last report. Intervention from the government helped the Indian markets, short lived or time for a new rally only time can tell.
Nifty currently seems to be low on the curve and we may witness the bulls coming back in from lower levels if any throughout the week. The demand zone of 10863 with a stop loss of 10585 seems to be intact. Fine tuning this we have another demand zone at 10899 with a stop loss of 10842, another one lies at 10655 with a stop loss of 10585. On the higher side we have supply zone at 11670 with a stop loss of 11706 which may cause some hurdle for the bulls. The next one comes at 11725 with a stop loss of 11981.
Nifty bank after a rally last week seems to be in equilibrium where the bulls and bears might have a tough fight ahead. Looking at demand zone we have the first one at 27741 with a stop loss of 27531, next one is at 27043 with a stop loss of 26617. Further fine tuning this we have one at 26920 with a stop loss of 26762. Supply zones come in at 29211 with a stop loss of 29530. Another one in a higher time frame comes at 29325 with a stop loss of 29770.
We may expect some announcements in the coming week pertain to capital markets by the government. However if this helps cheer the street or not one would have to see for itself. Globally the trade war seems to be at a standstill with no on negotiations at all, currency devaluation could be the next worry for the street.
Nifty currently seems to be low on the curve and we may witness the bulls coming back in from lower levels if any throughout the week. The demand zone of 10863 with a stop loss of 10585 seems to be intact. Fine tuning this we have another demand zone at 10899 with a stop loss of 10842, another one lies at 10655 with a stop loss of 10585. On the higher side we have supply zone at 11670 with a stop loss of 11706 which may cause some hurdle for the bulls. The next one comes at 11725 with a stop loss of 11981.
Nifty bank after a rally last week seems to be in equilibrium where the bulls and bears might have a tough fight ahead. Looking at demand zone we have the first one at 27741 with a stop loss of 27531, next one is at 27043 with a stop loss of 26617. Further fine tuning this we have one at 26920 with a stop loss of 26762. Supply zones come in at 29211 with a stop loss of 29530. Another one in a higher time frame comes at 29325 with a stop loss of 29770.
We may expect some announcements in the coming week pertain to capital markets by the government. However if this helps cheer the street or not one would have to see for itself. Globally the trade war seems to be at a standstill with no on negotiations at all, currency devaluation could be the next worry for the street.