Bank Nifty Weekly Outlook for March Expiry

Last Week we gave Chopad Level 21201 Bank Nifty made exact high of 21202 and gave perfect entry chopad followers and made low of 20754 near our last target of 20750 rewarding disciplined chopad followers. As discussed in last analysis  as we enter a crucial time cycle 20-29 March for bank nifty, expect 500-800 points move in next 2 weeks.  Bank Nifty gave 448 points fall as we were expecting in 1 week, power of time cycle. Lets analyze how we  trade bank nifty in coming week as we are approaching March Expiry and Financial Year closing.

Bank Nifty Hourly

Bank Nifty  bounced from the lower end of channel suggesting 20750 will remain strong support and rally can extend towards 21500.

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Nifty Weekly Outlook for March Expiry

Last Week we gave Chopad Levels  of 9150, Nifty gave Short entry on Monday which  did 2 target on Downside by Wednesday.Nifty for a single session was not able to close below the Chopad level of 8150 suggesting Bulls were under pressure from start of the week.  Lets Analyze how to trade Nifty as we are approaching March Expiry and Financial Year closing.

Nifty Hourly Chart

Hourly chart was near the support line

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Reliance Technical Outlook after SEBI ban

Reliance Industries has been barred by Sebi (Securities and Exchange Board of India) on Friday from equity derivatives trading for one year.  SEBI has imposed BAN following alleged fraudulent trading in the futures and options (F&O), or derivatives, of RIL's former listed subsidiary Reliance Petroleum, which has since been merged with the parent firm. Sebi has allowed RIL and other entities to square off or close existing open positions.
The regulator has asked RIL to pay Rs 447 crore along with an annual interest of 12 per cent since November 29, 2007, taking the total disgorgement liability of the company to nearly Rs 1,000 crore. It has been asked to pay the amount within 45 days.SEBI said Reliance has made gain of 551 cores so technically reliance has to pay fine of just 450 cores which is minuscule for company having market cap of 44 Billion USD.  This News will be sentimentally negative to stock but long term prospect will not get affected. Lets study the technical parameter of stock how it can react on Monday.

 

Reliance Gann Chart

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Buying the Small Cap Breakout: Generic Construction

Generic Engineering (GENCON ) we discussed in last analysis breakout above 115 for a move towards 122/130
Generic has closed above 115 but still has not achieved the target of 122 High made was 119.80. Stock has finally close above the breakout level of 115 and has been trading in tight range of 112-119 from past 2 weeks. Below is the technical update on stocks for the further move we are anticipating.

Generic Hourly

Generic Hourly Chart closed above the breakout level of 115 and almost near our target of 122, High made till now is 119.80. As stock has been

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Nifty does 9130 Holding 9030,EOD Analysis

• FII's sold 3.9 K contract of Index Future worth 316 cores ,4.3 K Long contract were liquidated by FII's and 345 Short contracts were liquidated by FII's. Net Open Interest decreased  by 4.6 K contract, so rise in market was used by FII's to exit long and exit short in  Index futures. Successful traders have a lot to learn from sportsmen

As discussed in last analysis  Nifty closed at 9030 and was holding on to range of 9036 for most part of the day. Bulls should keep eye on 9040 close above it back to 9100-9130 range. Bearish below 9000 for a move till 8969-8920. Low made today was 9048 so yesterday Nifty held on to 9030 and bounced back from 1 gann angle to another one. Now Nifty trading above 9100 will be very bullish and we can see move towards 9174/9220. Bearish only below 9000. Nifty did high of 9133 so we did the target of 9130 as shown in below chart. Now bulls need close above 9130 for a move towards 9174/9216. Bearish below 9070 for a move towards 9020/8968.  Will Bank Nifty give Weekly close above 21000,EOD Analysis

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