5 Free Nifty Weekly view

Nifty witnessed an extremely volatile week and Markets rebounded sharply on Friday with gap up opening above 5300 levels and managed to close in positive terrain for the week. After testing lows near 5215.70 it bounced back sharply to close at the week’s high at 5358.70. Positive global cues helped the Nifty to recover from the lows as short covering was seen in banking and capital goods stocks in Friday’s session. The technology space was the major gainer of the week

Breakout above 5400 levels is likely to accentuate the buying momentum in the near term. Adding to it current upmove has been backed with rupee appreciation which makes it more sustainable and hence forth the uptrend remains intact as long it sustains above the earlier rising gap of 5205.

Bank Nifty made a low of around 9820 and is currently at 10100. The weighted average price for Nifty is at 5295 and Bank Nifty is at 10050

VIX : India VIX saw the second lowest closing of the lifetime at 15.26. Last time India VIX closed at 15.22 on September 6, 2010 after which a fresh round of positive momentum was seen

Options : In the options segment, activities remained concentrated at the ATM strikes and Put 5200 strike saw maximum addition of open interest. On the higher side, Call OTM strikes have evenly distributed open interest with highest open interest at Call 5400 strike. Huge put writing in 5200 and call writing at 5500
might see the Nifty in 5200-5500 range for September

Key Break Out Levels for Nifty : 

Buy Nifty(Spot) above 5403 T1: 5440 T2: 5477 T3: 5514 T4: 5551 T5: 5588 T6: 5626 SL: 5288
Sell Nifty(Spot) below 5288 T1: 5252 T2: 5215 T3: 5179 T4: 5143 T5: 5108 T6: 5072 SL: 5403

Disclosure/Disclaimer and FAQ

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  1. Nifty Weekly Target 1 achieved and now i am keeping 5400 as my stop loss.

  2. Nifty Weekly TG4 target done today and i am still holding my positions with stop loss 5477.

  3. Nifty Weekly TG6 Done today and booked in full at 5590. Now, I am not holding any positions in Nifty futures. Enjoy!!!

  4. Weekly Positional levels for this week...
    Buy Nifty(Spot) above 5650 T1: 5690 T2: 5728 T3: 5765 T4: 5803 T5: 5842 T6: 5880 SL: 5551
    Sell Nifty(Spot) below 5550 T1: 5514 T2: 5477 T3: 5440 T4: 5403 T5: 5366 T6: 5330 SL: 5652

  5. Nifty TG1 completed. I have revised stop loss now to 5638 and holding my positions.


Thanks for giving your valuable inputs, TRENDGURUS


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