UPCOMING WEEKLY ANALYSIS -
Aug 23rd - Aug 27th
NIFTY ANALYSIS UPCOMING WEEK -
NIFTY -
1) NIFTY weeks closing @ 16415 levels.
2) NIFTY had 350 points of profit bookings with negative global cues.
3) NIFTY took support @ 16370 levels.
4) NIFTY looks still strong.
5) NIFTY below 16370 will be bearish for the short term.
6) Below 16370 we may see a downside level till 16220 & 16150.
7) NIFTY has strong support @ 16061 levels.
8) NIFTY will be bullish above 16510 for the short term.
9) NIFTY above 16510 levels, we will see retesting upper levels till 16610 & 16666.
10) NIFTY 16777 will ride towards 17000 at a logical level.
11) NIFTY has a Non-trading zone between 16373 - 16510 levels.
12) In the upcoming week we may see a strong short-covering in NIFTY, As per global markets.
13) NIFTY has a bullish view according to my analysis in the upcoming week.
BANK NIFTY ANALYSIS UPCOMING WEEK -
BANK NIFTY -
1) BANK NIFTY weekly closing @ 35033 levels.
2) BANK NIFTY had a week closing compared to NIFTY.
3) BANK NIFTY has a Non-trading zone between 34900 - 35300 levels.
4) BANK NIFTY upper trend will be decided above 35300 levels.
5) BANK NIFTY upside moves will be till 35555 & 35700 levels.
6) BANK NIFTY above 35700 will have the potential to move till 35929 & 36212 levels.
7) BANK NIFTY a closing above 36317 will be a strong bullish sign for upper moves till 37000 & 37777 levels for fresh all-time highs.
8) BANK NIFTY will be bearish below 34900 levels.
9) BANK NIFTY below 34900 levels can lead to downside till 34640 levels.
10) BANK NIFTY 34640 has strong support, below this level can move further downside till 34444 & 34114 levels.
11) BANK NIFTY will be in the oversold zone if downside levels are tested.
12) BANK NIFTY will be a bounce-back in the upcoming week.
13) BANK NIFTY will have a short-covering move on the upside.
14) We will see a huge Volatility in the upcoming week.
15) BANK NIFTY will have a surprise moves in the upcoming days.
USDINR UPCOMING WEEK ANALYSIS -
USDINR -
1) USDINR weeks closing @ 74.40 levels.
2) USDINR bigger upside moves will be seen only above 74.65 levels.
3) USDINR will move upside till 74.84 & 75.10 levels.
4) USDINR a closing above 75.10 will lead towards 75.40 & 75.75 levels
5) USDINR will have a bigger downside moves only below 74.23 levels.
6) USDINR can have a downside to 74.04 levels.
7) USDINR closing below 74.04 levels can lead to deep downside till 73.73 & 73.53 levels.
8) USDINR will have massive moves in the upcoming days.
NIFTY METAL ANALYSIS -
1) NIFTY METAL had a closing @ 5306 levels.
2) NIFTY METALS will be bearish below 5300 levels, for downside moves till 5145 & 4860 levels.
3) NIFTY METALS will be bullish above 5500 levels.
4) NIFTY METAL above 5500 levels can make metal stocks bullish.
5) TATA STEEL stock to watch for breakout & breakdown. Tata steel 1400 levels was a breakdown level for downside till 1300 & 1221. Again if it moves above 1400 a clear short covering will be seen for upwards till 1500 & 1555 levels.
NIFTY FINANCIAL ANALYSIS -
1) NIFTY FINANCIAL closed @ 17152 levels.
2) NIFTY FINANCIAL has made a double top technically.
3) If the double top is broken we may see massive moves on the upside.
4) NIFTY FINANCIAL short covering can be seen as per moves of BAJAJ FINANCE.
5) NIFTY FINANCIAL will give a surprise move.
6) NIFTY FINANCIAL if dies not sustain upside, there will be a heavy slippery slope on the downside.
NIFTY PHARMA ANALYSIS -
1) NIFTY PHARMA has closed @ 13711 levels.
2) NIFTY PHARMA stocks have heavy corrected above 30% on the downside.
3) NIFTY PHARMA has a strong @ 13333 & 13500 levels.
4) A strong accumulation zone will be @ 11777 & 11111 levels.
5) The pharma stocks had sudden corrections in Dr reddy / Lupin & Auropharma.
6) SUNPHARMA is the only stock on the upside because this stock has been given a year consolidation breakout. We may see a small pain in sun pharma stock in the upcoming days & if again it breaks 800 levels. It has potential moves on the upside.
7) Selected pharma stocks are good to buy for the long term technically.
8) One can imagine Pharma & Metal sector have bought NIFTY from 7500 - 12500 levels in the 2020 year pandemic.
9) Now in the present scenario Pharma & Metals are correcting resembles NIFTY is waiting for huge corrections.
10) NIFTY PHARMA stocks are good to buy for the long term for upcoming year's.
A Weekend Thought -
-REGARDS-
Kirthee Bane
