Weekly NIFTY & BANK NIFTY Technical Analysis 8th July, 2017

TL;DR

This video provides technical analysis for Nifty and Back Nifty, analyzing the previous week's movements and predicting future possibilities.

Transcript

hi illa markets.com team welcomes you to weekly nifty and back nifty technical analysis in this video we will discuss whatever technical phrase we could have taken in nifty and back nip during the previous week towards the end we will also explore what are the technical possibilities for nifty and pack nifty in the week coming ahead we want to add ... Read More

Key Insights

• 🧡 Nifty had a range-bound and consolidating movement during the previous week.
• 🖤 The Bollinger Band width became narrow, signaling a lack of volatility.
• 🖕 Back Nifty underperformed Nifty and remains below the mid Bollinger Line.
• 🎚️ Breakouts above the resistance level or breakdowns below support levels could lead to significant moves.
• 🥳 The 50-day moving average provided strong support for Nifty.
• 🤗 Open interest in options suggests a reasonably range-bound market for the next week.
• 🏃 Traders are advised to exercise due diligence and seek guidance from professionals.

Questions & Answers

Q: What indicators were used to analyze the daily chart of Nifty?

The daily chart analysis of Nifty utilized indicators such as moving averages, volume, Bollinger Bands, stochastics, RSI, ADX, and DMI.

Q: What were the key findings from the analysis of Nifty's movements during the week?

The analysis showed that Nifty had a steady upward movement but lost momentum towards the end of the week. The Bollinger Band width became narrow, indicating a range-bound and consolidating movement.

Q: What trading opportunities were identified in the hourly chart analysis?

The hourly chart analysis identified potential shorting opportunities near the mid Bollinger Line and a long trade after the break of the trendline. Traders could have gained around 50-60 points based on their entry point.

Q: What support levels were identified for Nifty in the coming week?

The 34-period moving average provided support at around 9,591, followed by the 50-day moving average at approximately 9,524. These levels could act as supports if the market breaks downwards.

Summary & Key Takeaways

• The video analyzes the daily chart of Nifty, using various indicators such as moving averages, volume, Bollinger Bands, and stochastics.

• The analysis shows that Nifty had a range-bound and consolidating movement during the previous week.

• The hourly chart suggests potential trading opportunities based on breakouts, pullbacks, and support levels.