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NIFTY & BANK NIFTY WEEKLY OUTLOOK

 Source :  http://www.moneyvistas.in Nifty weekly levels
Pivot ----- 5266
Resistance ----- 5370/5436/5541
Support ----- 5199/5095/5028


This week we have support at 5232.Correction likely to stop at 5240 before expiry and i am expecting expiry below 5300.
Be careful with your fresh investments,markets may fall 10-15% from current levels sooner or later.


On the way ahead 5318 is first resistance point and above that 5380 and 5403-5420 area.
Bad news may come from any side of the world.I am not comfortable to invest in Nifty 50 stocks at current levels.
Downside support comes at 5232 and below that level watch out 5145.
Closing below 5232 may take us to 5145 quickly.

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Bank nifty weekly levels
Pivot ----- 9615
Resistance ----- 10023/10233/10642
Support ----- 9404/8996/8785

Bank nifty at higher end of the range.Book profits quickly.For next week it may trade in a range of 9500 to 9850 range.

Upside resistance come at 9820 and above that 9890.
Down side supports at 9500 and below that 9350 are supports.
Around 9350 levels go long with a stop loss of 1% in May series.

Mail me your feedback @ moneyvistasblog@gmail.com

Cheers & Best to your trading.



Disclosure: no positions