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1. Technical View (Equity)
Weekly call
Index CMP % up/dn S2 S1 P R1 R2
Nifty 11,844.10 1.60% 11585 11715 11785 11915 11990
Sensex 39434.72 1.61% 38595 39015 39245 39665 39900
Bank Nifty 31212.55 2.64% 30305 30760 31015 31470 31730
Nifty Weekly Chart
Comments:
Nifty started the week with an upward gap and buying momentum for most part of the week led it to
close in positive territory. Nifty closed at 11844 with a gain of 437 points on a weekly basis.
On the weekly chart index has formed a sizable bullish candle forming higher High-Low formation
indicating positive bias. . The index is moving in a Higher Top and Higher Bottom formation on the
weekly chart indicating positive bias. The chart pattern suggests that if Nifty crosses and sustains above
11880 level it would witness buying which would lead the index towards 11930-12050 levels. However if
index breaks below 11700 level it would witness selling which would take the index towards 11660-
11580. Nifty is trading above 20 , 50 and 100 day SMA's which is important short term moving average,
indicating positive bias in the short term. Nifty continues to remain in an uptrend in the medium term,
so buying on dips continues to be our preferred strategy. For the week, we expect Nifty to trade in the
range of 12100-11700 with a positive bias.

2. The weekly strength indicator RSI and momentum oscillator Stochastic have both turned positive and
are above their respective reference lines indicating positive bias
The trend deciding level for the day is 11785. If NIFTY trades above this level then we may witness a
further rally up to 11915-11990-12115 levels. However, if NIFTY trades below 11785 levels then we may
see some profit booking initiating in the market, which may correct up to 11715-11585-11515 levels
Bank Nifty Weekly Chart
Comments:
Bank Nifty started the week with an upward gap and buying momentum for most part of the week led it
to close in positive territory. Bank Nifty closed at 31213 with a gain of 1762 points on a weekly basis.
On the weekly chart index has formed a bullish candle forming higher High-Low formation indicating
positive bias. . The index is moving in a Higher Top and Higher Bottom formation on the weekly chart
indicating positive bias. The chart pattern suggests that if Bank Nifty crosses and sustains above 31280
levels it would witness buying which would lead the index towards 31430-31700 levels. However if index
breaks below 30650 level it would witness selling which would take the index towards 30500-30200.
Bank Nifty is trading below 20 ,50 and 100 day SMA's which are important short term moving average,
indicating negative bias in the short to medium term. Bank Nifty continues to remain in an uptrend in
the medium term, so buying on dips continues to be our preferred strategy. For the week, we expect
Bank Nifty to trade in the range of 32000-30500 with a positive bias.
The weekly strength indicator RSI and momentum oscillator Stochastic have both turned positive and
are above their respective reference lines indicating positive bias

3. The trend deciding level for the day is 39245. If BANK NIFTY trades above this level then we may witness
a further rally up to 39665-39900-40320 levels. However, if BANK NIFTY trades below 39245 levels then
we may see some profit booking initiating in the market, which may correct up to 39015-38595-38360
levels
STOCKS IDEAS FOR THE DAY
Company Name BUY/SELL RANGE Stop Loss Target
INFRATEL BUY(Above) 280 277 283-286
PETRONET BUY(Above) 245 242 248-250
Note- Stocks Ideas are based on previous day’s close and are activated only if they trade in buy/sell range.