MARKET WRAP OF WEEKLY EQUITY
Nifty-
This week nifty ware gap up opens on the high of previous week at 8550.05, and took support of 8550 level, nifty break its life time high on Tuesday, and took a new high of 8707.75, after this nifty ware continual up and close high to high on last trading day of the week nifty crosses 8850, made a high of 8866.15, close at 8823.80.So recommendation for nifty to long in deep for 9000 but after a little bit correction of 140 points.( probable) to maintain SL below 8400.
Indicators MADC show cross over on 260.70 on 266. RSI at 70.50 and RSI took support on 60 by rising tops.
Bank Nifty-
This week Bank nifty ware open on the high of previous week at 19345.65.then bank nifty ware continual up in this week up to 20167.65. it has took a continual support of 34 EMA, so recommendation for bank nifty to long in deep on the support of 34 EMA.sl should be 50EMA.
Long bank nifty at 20100 target 20400 sl 19800.
Indicators MADC on over bought zone at 1188.95 on 1085.80nd RSI took support of 70 at 76.45.




Technical Views

NIFTY
Trend: - Consolidate
Resistance: - 8900
Support: - 8650, 8500
Strategy: - Buy on dips

BANK NIFTY

Trend: - Consolidate
Resistance: - 20500
Support: - 19500-19000.
Strategy: - Buy on dips


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