Before we start the weekly Analysis 7-11th Sep20 of Nifty and Banknifty we have one important message for Subscribers.
Those who subscribed us and haven’t received stocks of the week in your email on every weekend , please check your Spam /promotion folder and move our mail to inbox ( one time process) . So next you will receive all mails in inbox folder. If you haven’t received yet feel free to contact me.
Technical analysis of Nifty and Banknifty
Daily chart of NIFTY50
Complete Indecisiveness at the moment as per daily chart in NiFTy50. You will understand , if you look at the daily chart that Bulls are not letting it slide below previous day low and same way Bears are not letting it slide above previous day high.
Weekly chart of Nifty50
On the other hand weekly chart is giving Trend reversal sign as it formed Hammer candle. If you check all previous candle then closing of candle is above 5 week EMA and this time as well it’s above that level . Indicating even in indecisive market Bulls haven’t lost control.
Nifty bank has been complete Indecisiveness for past one week , no fix trend but while doing so it didn’t break Trend line support.
PIVOT POINT ( SUPPORT and RESISTANCE)
11250 is now acting as strong support for Nifty50 and also 11350 is immediate support . On the upside 11500 is strong resistance if crossed then we may see one more attempt to break 11800.
For Nifty bank
22200 is very crucial support for Nifty50 based on Trend line as it’s making low near that support past few days but also bouncing back. On the upside 23000-23200 zone is very strong resistance for Nifty bank. So BREAKOUT will happen only if it break these levels.
Moving average -:
Weekly 5 day EMA bis strong support for past 10-12 weeks for Nifty50 unless it break it comfortably there is no downside, also in daily chart Multiple moving averages are lined up as resistance and Nifty has to cross 11500 comfortably to surpass them.
Nifty bank is taking support of weekly 20 day EMA and as resistance it has to cross 23000 to surpass 5 and 20 day EMA.
Heikin Ashi -:
Hekin Ashi shows an accurate trend, but it’s lagging in the Indicator as it follows previous candle prices.
For Nifty it’s showing Bullish and for Nifty bank Hekin ashi is suggesting a Bearish reversal trend at the moment in daily chart.
My view on Nifty and Nifty bank -:
For Nifty50 and Nifty bank
Nifty50 if sustain 11350 or even 11250 in next week I am expecting some bounce but the market will remain range-bound unless Nifty50 cross 11500 comfortably.
The nifty bank is respecting trend line support near 11200, which is very strong support if it’s broken we may see Nifty bank heading for 21000 make or break level. On the Upside, if 23200 zone crossed comfortably then it will move towards 24000 very easily.
There is one more interesting thing about USA market.
US market is making the same pattern as it made before in March. This is an observation, not any indication, it’s possible it may slide now if it breaks that low point in the second circle on the right side.
Stocks of the week
What is the use of subscribing us ..
see what we gave for FREE of cost in HDFC life and more upside on the way
- HDFC LIFE ( again after giving on 575)
Before I say anything on this stock, let me tell you I gave this stock when it was on 575…see below pictures
And second picture for continuation of first picture
Now let’s see this week trend.
Cup and handle formation is getting much stronger. Also, see the low of the handle, it’s our buying price of 575. The stock already made a high of 614. If it breaks 650 there will be a huge upside here. Also, there is news of a GST cut in the insurance sector and this is the best stock in the insurance sector. Keep holding it guys with both hands.
Remaining 3 stocks will be delivered to our subscribers on mail so don’t forget to subscribe us for FREE of COST .
Don’t forget to Open DEMAT account through us on
You can see our articles