Nifty & Banknifty Weekly Analysis 01FEB

NIFTY LAST WEEK WAS WEAKER WHERE BANKNIFTY HAD A NEUTRAL WEEK RESPECTING OUR SUPPORTS FOR NEAR 29500-29K AREAS.

NIFTY Futures : Weekly Trend decider at 13777. This forms the reference for a bias (bullish/ bearish )
1. Hold below look to tgt 13565/13530
2. Fail to hold below , move above for tgt of 13800/14200

BANKNIFTY Futures: Weekly Trend decider at 30350 areas.
1. Hold below that for a move to 329700/28400
2. Hold above that look for bullish continuation for a move to 31300/31850

Comentário:

Obviously because of the big move all upside targets are done.
But what is of more significance is that opening and hold of the areas exactly near the weekly trend deciders. This gave an opportunity early in the budget day to ride the big trend