Sensex, Nifty50 Technical Analysis For Week (6-10jule)

Sensex, Nifty50 Technical Analysis Options Trading

Nifty50

Nifty marked new high last week but failed to sustain their with new levels and came down to resistance levels of last few weeks that is 21180- 24250 but it closed between these levels in this week. This is good sign for upside move. Resistance for the week is 24380 and it needs to break with bullish buying and sustain above it. Last week it has sustained their but with selling pressure and started caming down.

Further upside target for Nifty is 24510 - 24580 and if it breaks 24550 with bullish buying then 24690/700. 24860 is resistance upside resistance.

Downside target: If it fails to sustain next week because of volatility and FII selling then again downside support levels are 23990- 23827 which is very good support for it since 15 June.

Trades for week positions

Exp:21 July

• CE 24500 B=72-90 T=127-155
• CE 24300 B= (1/160) T= 190/240/280

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• PE 24000 B=(100/110) T= 160/225
• PE 24100 B = 131/150 T=200/260

Trail stop loss when close target.

Sensex

It came down from the high levels of 24880- 78750 but taken support above 76000 at 76260. 76000 is strong support from 15 June. Sharp selling is happened this week because of volatility and globals economic problems but again buying has done and it has recovered 1300 points more than 50% in two days from low to high.

It moved 2140 points in week from high

78600 to low 76260.

It is closed above resistance of 77500 and below the major resistance level of 77781. It needs to breaks this for further movement with breakout.

Upside target is 78355 - 78520 then passing this 78750.

Downside if it fails to break then support is 77000 which is strong support and then 77500- 76240

Exp: 16 jule

• CE 78000 B=271/290 T= 345/480/600
• 78300 B=180-200 T=240/340/450
• PE 77200 B=300/330 T=500/750
• 77500 B= 421/460 T= 800/860
• 77000 B= 244/270 T=430/650

Tail sl when close to target