Weekly wrap:Trading strategies


Weekly wrap

Nifty view for the week

4800 – 4830 range continues to remain a key support area. If Nifty manages to respect this range

and clear the resistance of 4960 then we expect a sharp upside till 5100. In an alternate scenario

a breach of 4800 would induce a sell off till 4685 and lower.

Sector in Focus: BSE Bankex index

BSE Sensex was successful to give positive weekly close in last week after 3 consecutive negative weekly closes in the preceding weeks. A ‘Doji’ structure is visible on weekly chart of BSE Sensex indicating a temporary halt for the downtrend and bounce back may be seen.

After a steep fall in the current month, BSE Bankex is expected to show some consolidation in the range of 11,035 and 10,387 and the upward breakout above 11,035 is expected to trigger a sharp bounce in this sector up to its 200 – DMA of 11,400.

In such scenario, buying is recommended in Banking stocks like Axis Bank, HDFC Bank and ICICI Bank in cash or F&O segment on short term basis.

Commodity pick of the week: Gold


Strategy
: Sell on rise till 28900 with stop loss above 29200 Target 28500, 28300.

Debt Market Report

10 Year Yield likely to move in the range of 8.42/54 levels.

Debt Market Watch 260512.pdf
Gold_Commodities_POW_280512.pdf
Sector_in_Focus_280512.pdf
Weekly_Technical_View_280512.pdf

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