Tag: bank nifty

Nifty

After a steep fall, price took support at falling support line and moved high near falling resistance line. We assume next week would be more volatile than the previous one because of the the Fed meeting. Looking, at the technical picture we assume above 7890-7900 NIfty might rise till 8040 and below 7740 next move till 7640. Overall , we are bearish.

Banknifty

 

After a steep fall, price took support at falling support line and moved high near falling resistance line. We assume next week would be more volatile than the previous one because of the the Fed meeting. Looking, at the technical picture we assume above 17100 would act as a rock solid resistance with overall negative tone till 16000-15700.

 

Crude

 

Last week was a volatile for the Crude price. After moved high by 10 % price moving in a sideways and forming a bullish flag which is perfectly backed by the volumes. But this pattern would be negated if it goes below 2870 levels. Hence we advise to go long till 3180-3240 near 2970-40.