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CNXNifty (Weekly Chart)

Banknifty (Weekly Chart)

BANKNIFTY:  We have achieved our target of 16200/16300 in BANKNIFTY as we mentioned in our last weekly report.

For the coming week 16200 is the major support area, After 5 months of consolidation last week BANKNIFTY has given a breakout and made a high of 16572.50. We have to closely watch monthly closing of BANKNIFTY.

The index will continue to outperform the CNXNIFTY and we can see a level of 17800 in medium term.

CNX MIDCAP:  Last week CNX MIDCAP opened at 11244 and given a closed of 11522.90, Almost near its resistance level of 11550.

For the coming week 11300/11700 should be the range of CNX MIDCAP.

CNX SMALLCAP: Even CNX SMALLCAP has given a close at 4997.35 almost its resistance level of 5020/5050.

For the coming week 4870 /5150 should be the range of CNX SMALLCAP.


Last week DOW JONES has given a weekly reversal and given a close at 16805.41.We will closely watch monthly close of DOW JONES and CBOE VOLATILITY INDEX and also a correlation between both.

In medium term lower top lower bottom pattern formation to continue in DOW JONES. 17200 is the major reversal point in DOW JONES till then it is in a range and sell on rise.

GOLD- Last week gold has given a negative to sideways close of 1230.90 after making a high of 1255.60. We are continue with our bullish upside target of 1280/1285 in medium term.

SILVER- Even silver has also given a sideways to negative close of 17.1970.We are continue with our bullish upside target of 18.65 in medium term.


Disclaimer:All information given here is largely based on technical analysis which is highly dynamic in nature and relevant only at a particular point of time. Users are advised to pursue these recommendations only at their own risk and first consult their personal investment advisor when making investment decisions. We are not liable and we take no responsibility for any loss that you incure by trading/investing on our recommendations. these study are posted for educational purpose only.

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