BANK NIFTY FUTURES WEEKLY TREND ANALYSIS FROM 25th TO 29th MAY 2009
BANK NIFTY HAS CLOSED AT 7058
"BANK NIFTY WILL REMAIN BULLISH TILL IT REMAINS ABOVE 7066 7121"
A CLOSE ABOVE 7066 7121 WITH GREEN VOLUMES IS NEEDED.
ABOVE 7066 7121 BANK NIFTY CAN RALLY UP TO 7187 7253.
7253 WILL ACT AS A STRONG HURDLE AND ONLY IF SUSTAINS ABOVE 7253 CAN TAKE BANK NIFTY FUTURES HIGHER TOWARDS 7415 7590 7764.
SINCE 7600 IS THE WEEKLY HIGH OF BANK NIFTY FUTURES IT WILL ACT AS A SMALL OBSTACLE AT 7600
BUT A MOVE PAST 7600 CAN RALLY IT FURTHER UP TO 7764.
"7764 IS THE MAXIMUM. AND ANY FURTHER UPTREND IN BANK NIFTY FUTURES WILL HAPPEN ABOVE 7764 ONLY"
BANK NIFTY FUTURES IS STRONG ABOVE 7066 SO IN CASE BANK NIFTY FUT TRADES ABOVE 7066 IT SHOULD SUSTAIN ABOVE IT.
UNABLE TO SUSTAIN ABOVE 7066 WILL TAKE BANK NIFTY FUTURES TO 6984 6901 6820 6777 6736 6708.
6736 6708 IS THE 1st BOUNCE BACK ZONE FOR BANK NIFTY FUTURES.
UNABLE TO HIT BACK FROM 6736 6708 WILL TAKE BANK NIFTY FUTURES TO LOWER REGION AT 6640 6571 6502 6433
"6433 IS THE 2nd BOUNCE BACK REGION AND NIFTY FUTURES SHOULD BOUNCE BACK FROM HERE"
IF 6433 IS BREACHED THEN FURTHER FALL UP TO 6364 6295 6226 6158.
6158 IS THE 3rd AND THE LAST BOUNCE BACK REGION SO IN CASE OF A HUGE FALL, 6158 WILL ACT AS AN AREA FOR SHORT COVERING AND A STRONG AREA FOR BOUNCE BACK.
HAVE A NICE TRADING SESSION FOR THE COMING WEEK.
GANPATI BAPPA MORYA
HARI OM
REGARDS,
NISHIKANT K. HADGE
HARI OM
BANK NIFTY FUTURES WEEKLY TREND ANALYSIS FROM 25th MAY TO 29th MAY 2009
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BANK NIFTY FUTURES WEEKLY TREND ANALYSIS FROM 25th MAY TO 29th MAY 2009
BANK NIFTY HAS CLOSED AT 7058
UPWARD VIEW OF BANK NIFTY FUTURES:-
"BANK NIFTY WILL REMAIN BULLISH TILL IT REMAINS ABOVE 7066 7121"
A CLOSE ABOVE 7066 7121 WITH GREEN VOLUMES IS NEEDED.
ABOVE 7066 7121 BANK NIFTY CAN RALLY UP TO 7187 7253.
7253 WILL ACT AS A STRONG HURDLE AND ONLY IF SUSTAINS ABOVE 7253 CAN TAKE BANK NIFTY FUTURES HIGHER TOWARDS 7415 7590 7764.
SINCE 7600 IS THE WEEKLY HIGH OF BANK NIFTY FUTURES IT WILL ACT AS A SMALL OBSTACLE AT 7600
BUT A MOVE PAST 7600 CAN RALLY IT FURTHER UP TO 7764.
"7764 IS THE MAXIMUM. AND ANY FURTHER UPTREND IN BANK NIFTY FUTURES WILL HAPPEN ABOVE 7764 ONLY"
DOWNWARD VIEW OF BANK NIFTY FUTURES:-
BANK NIFTY FUTURES IS STRONG ABOVE 7066 SO IN CASE BANK NIFTY FUT TRADES ABOVE 7066 IT SHOULD SUSTAIN ABOVE IT.
UNABLE TO SUSTAIN ABOVE 7066 WILL TAKE BANK NIFTY FUTURES TO 6984 6901 6820 6777 6736 6708.
6736 6708 IS THE 1st BOUNCE BACK ZONE FOR BANK NIFTY FUTURES.
UNABLE TO HIT BACK FROM 6736 6708 WILL TAKE BANK NIFTY FUTURES TO LOWER REGION AT 6640 6571 6502 6433
"6433 IS THE 2nd BOUNCE BACK REGION AND NIFTY FUTURES SHOULD BOUNCE BACK FROM HERE"
IF 6433 IS BREACHED THEN FURTHER FALL UP TO 6364 6295 6226 6158.
6158 IS THE 3rd AND THE LAST BOUNCE BACK REGION SO IN CASE OF A HUGE FALL, 6158 WILL ACT AS AN AREA FOR SHORT COVERING AND A STRONG AREA FOR BOUNCE BACK.
HAVE A NICE TRADING SESSION FOR THE COMING WEEK.
GANPATI BAPPA MORYA
HARI OM
REGARDS,
NISHIKANT K. HADGE
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