In previous week opening that is on Monday Nifty observed a spike at 16546.50 and made all time high at the same level. But ignoring that Nifty has formed a double top at 15930 levels and failed to sustain above 15930 levels and dragged itself from there to a low of 15641 and settled at 15721 down by 0.13% on weekly basis.
BankNifty also failed to close above 36000 levels which we mentioned in the previous article and erased all the gains and made a low of 34980 and settled at 35275 up by marginal 0.93%.
Lets look the the previous weeks top 3 index gainers and loosers.
Top Weekly Gainers | ||
Name | LTP | %change |
Bajaj Finserv | 12854 | 9.4% |
TataSteel | 1239 | 9.1% |
Hindalco | 390 | 3.7% |
Top Weekly Losers | ||
Name | LTP | %change |
Tata Motors | 306 | 11.2% |
Bajaj Auto | 3996 | 4.3% |
TCS | 3208 | 3.5% |
Bank Nifty:
Bank Nifty has closed at 35275 – near its strong support line. Now if Bank Nifty closes below 34950 it may test 34760 / 34450 / 33930 & below. Any longs should be taken only if it closes above 36000 levels.
Nifty:
Nifty has formed a Doji candle on daily chart citing indecisiveness move for next week and closed near its support line at 15721. In next week if Nifty closes below 15640 it may test 15465 / 15200 / 15085 levels which acts as a strong support for the index. Any Longs should be added above 15826 and strong above 15930.