Banknifty update for May 15, 2020

The Banknifty is moving up and down in range (mostly Gann Nos). After making high on the stimulus package, Banknifty is moved down continuously making low near Gann No 19000 today. It looks this range-bound move will continue till FM's daily conferences continue. So the possibility of 21600- 22500 based on Fib-projection still continues, unless we break 18300 levels.

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Bullish Stocks to watch for Week Jul-13-17, 2020

PVR: CMP - 1047.10 Above 1070 Target 1140/1240/1300/1320 SL: 1005 NIITTECH: CMP - 1592.90 Above 1620 Targets are 1750/1770 SL: 1560 MCDOWELL-N: CMP - 636.10 It achieved all targets give in the last week. It looks to continue its bullish momentum. Above 643 Targets are 660/670 SL: 630 JINDALSTEL: CMP - 169.15 Above 171 Targets are 178/182/190 SL: 165 This is only for educational purposes. I am not advising any trades.

Bank Nifty EOD Update Mar 14

As expected Bank Nifty opened major Gap Up of 462 points at 20189 and made high of 21274 and then retraced to make day low of 21059 and closed at 21102. Daily chart shows, Bank Nifty broke the upper line of blue channel within which it was moving for last 3 weeks. Bank Nifty closed above 21100 that is 3 digit Gann no, hence bullish for Bank Nifty. As long as it close above 21100 on daily closing basis view is bullish on Bank Nifty for target of 21800/22500 in coming days. Angles on Hourly chart shows Bank Nifty reversed from 26.5 degree angle and find support at 18.75 degree and bounced back. Tomorrow Bank Nifty may move in narrow range and protect today's Top/Bottom awaiting Fed rate decision and may react in Thursday morning to news!

MoneyNaad

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