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NIFTY WEEKLY ANALYSIS 31JULY2023

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 NIFTY Nifty printed same low of 19562 last week and this week .Break of this low may be considered as change in dow theory.          Nifty daily RSI at 60 and holding 20MA as of now. Hourly printed a lower high  .Have to wait           for decisive break of range 19562  - 20000 .Bulls losing strength.           For now will keep trades to intra until there a clarity of trend.
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Nifty Weekly Analysis 19/06/2023 - 23/06/2023

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 NF trading close to ALL TIME HIGH. Strong bullish candle weekly. Can expect some cool off .Can consider as buy on dips. Daily in a trading channel. Wait for some clarity.
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Bank Nifty Weekly Analysis (19/06/2023 - 23/06/2023)

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Bn is in distribution phase on weekly chart stuck in the range of 44500 - 43400 Further action expected only outside the range. Daily looks to be taking support at 50EMA still within range. Hourly can be Rlaunchpad. Bearish targets can be 43100 and 42900 if trades below 44100. Above 44100 bullish targets can be 44750 and 44900.
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Buy Apollo tyres jan fut above 165 with a stop at 162 for a target of 170 and 175. Buy SBI jan fut above 335 with a stop at 329 for a target of 352.  Buy Ujjivan jan fut at 340 with a stop at 335 for a target of 360.
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MY TRADING DIARY 20/6/2019 Market overview Market opened lower testing the previous day lows and support and bounced back quite fast from lower levels. Market rallied all day to end at day's high. Today's low marked to be very important asit is being held from 3 days and is also the level where market gapped up on exit poll results Today's level of 11630 can be considered as important short term support. Market is now buy on all dips. My Trades Had Voltas and tata steel shorts which had hit stops. Took ICICI and RIL shorts before 9:30 AM which also stopped out. Traded Apollo tyres and RIL long in the second half which worked out well. Today's Trading lessons No fresh trades before 9:30 AM . Fresh trades between 9:30 AM and 10:00 AM only if high/Low break happens. Can trade on good patterns with a clear stop. Mostly trades work after 12:30 - 1:00 PM everyday.
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Today's Picks 25/5/2018 BUY RELIANCE AT 918 WITH A STOP AT 910 FOR A TARGET OF 938. BUY LIC AT 472 WITH A STOP AT 467 FOR A TARGET OF 487. BUY YES BANK AT 334.5 WITH A STOP AT 330 FOR A TARGET OF 345. BUY VOLTAS ABOVE 540 WITH A STOP AT 527 FOR A TARGET OF 568.
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Bank nifty Weekly view

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Bank nifty trading with high volatility from few days. Bank nifty made a lower top and lower bottom and now trading in a range. Next week trade with caution as gujarat election results are awaited. Can go long above yesterday's high of  25600 with a target of 26000.
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