Bank Nifty Weekly Analysis for 15-19 Dec

Last week we gave  Nifty Chopad level of 18816  .Bank Nifty did 3 target on downside  rewarding chopad followers by 520 points.  Lets analyze how to trade Bank Nifty next week.

Bank Nifty Hourly

Bank Nifty forming ascending triangle pattern break of 18200..

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Nifty Weekly Analysis for 15-19 Dec

Last week we gave  Nifty Chopad level of 8546 Nifty made high of 8627 and came down till 8504 did 1 target on downside,Nifty  continued with its upward journey and make new life highs but closed negative on weekly basis after 6 straight weekly rise.Lets see how to trade next week.

 Nifty Hourly Chart

Nifty Hourly charts has broken its trendline @..

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Review of Nifty Corrections in 2014

Nifty has been correcting after hitting all time high of 8627 and started its downward journey. Lets review the previous correction in 2014 to get an idea how much deep this correction can run.


As per above analysis we are approaching..

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Nifty enter support zone, FII FnO Data Analysis

• FII's bought 14.5 K contract of Index Future worth 352 cores, 37.6 K Long contract were added by FII's and 23.1 K short contracts  were added by FII's. Net Open Interest increased  by 60.7 K contract ,so FII's added long in Index Futures and continue adding shorts in index future.

Nifty has broken its hourly channel,broken its 38.2% retracement. Nifty has corrected 411 points in the current correction, maximum correction seen in current bull market was 476 points.  We are near AF Support, September month resistance of 8181 and 50 SMA, so traders shorts can book profit. IIP data is very bad..

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Bajaj Auto,Rel Infra and M&M Finanace Harmonic Patten analysis

Bajaj Auto

Any close above 2584 stock is heading to 2639/2673/2728 in short term.

Buy above 2570 Tgt..

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