May 31st - June 04th
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NIFTY UPCOMING WEEK ANALYSIS CHART
1) Last week NIFTY had a rally with gap openings.
2) NIFTY weeks opening was @ 14211
3) NIFTY celebrated with an all-time high @ 15469, with a supportive move of RELIANCE & HDFC.
4) NIFTY weekly closing was done @ 15455
5) NIFTY looks bullish technically.
6) NIFTY upper rooms will get created by only above all-time high 15469 levels.
7) A good week's bounce-back zone for upside @ 15171 if profit-booking arrives.
6) NIFTY has a logical of level 15555.
7) NIFTY has the potential to test 15555/15600/15890 levels on the upside in the upcoming week, but only if it moves above 15469 levels.
8) There is a small gap pending for NIFTY to retest 14331 levels.
9) Below 15400 small profit might occur with the support of 15331.
10) Below 15331 it has a way to retest 15171 & 15100 levels on the downside in the upcoming week.
11) NIFTY seems to be bullish, only by on dips work.
12) Don't stay on short or long always go with trend flow.
BANK NIFTY ANALYSIS -
1) Last week BANK NIFTY made a good rally on the upside.
2) BANK NIFTY had a weekly open @ 34869.
3) BANK NIFTY made a weekly high @ 35436.
4) Had suggested in my last blogs, BANK NIFTY closing above 34287 will move 1000 - 1500 points on the upside.
5) BANK NIFTY has done 1200 points.
6) BANK NIFTY has lost the monument on the upside, it's my views.
7) BANK NIFTY has a pain of correction or on sideways movement will be seen.
8) PSU SECTOR will also have small pain corrections.
9) HDFC TWINS might support NIFTY to move on the upside.
10) KOTAK BANK will be more bullish only above 1813.
11) INDUSIND BANK will be bullish only above 1026.
12) BANK NIFTY has strong support @ 34287.
13) Breakdown of 34287, the strong bounce will be seen from 33900 levels in the upcoming week.
14) In the upcoming week BANK NIFTY is bullish only above 35555 & 36000 levels.
15) BANK NIFTY bearishness will be seen only below 35035 & 34287 levels.
USDINR ANALYSIS -
1) USDINR June month expiry opened @ 73 levels.
2) USDINR made a low till 72.60 levels.
3) USDINR has moved down, interesting to look at IT SECTOR had moved up.
4) IT SECTOR to look in upcoming days will play with the support of USDINR.
5) USDINR has come down to a sideways zone.
6) In the upcoming week USDINR will be bullish only above 73.03 levels.
7) The bearish trend will continue below 72.60 levels.
8) Had suggested on April month 2021 USDINR will retest 73 levels, which was a huge gap up opening done on 30th March 2021. Now the gap has been filled within MAY 30th 2021
8) On November 15th 2020, I had suggested USDINR forthcoming analysis, 71.50 is a strong support level for USDINR for the 2021 year. It is nearby to the support level and an accumulation zone.
The 15 November 2020 Analysis chart below shown in,
9) Better to hedge position in USDINR & trade, my views.
STOCKS TO FOCUS
IN THE UPCOMING WEEK -
1) RELIANCE
2) HDFC
3) INFOSYS
4) TITAN
5) ADANI PORTS
6) INDUSIND BANK.
STAY TUNED ON BLOG,
MORE UPDATES YET TO COME.
JUNE MONTH NIFTY & BANK NIFTY ANALYSIS.
INTRADAY LEVELS FOR 31st MAY.
WILL BE POSTED SOON.
