Weekly Analysis 7-11thSep20 of Nifty and Banknifty & best 4 stocks.

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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

Nifty bank has been complete Indecisiveness for past one week , no fix trend but while doing so it didn’t break Trend line support. 


For Nifty50

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 

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 

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  1. 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.

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2 thoughts on “Weekly Analysis 7-11thSep20 of Nifty and Banknifty & best 4 stocks.”

  1. I had subscribed earlier, when this channel was started. But i hv not been getting any email from you. Nothing in spam slso. Please send me the mail in future.

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