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WEEKLY REPORT


LIMITED UPSIDE AHEAD OF EXPIRY.... ADVISE TO BOOK PROFITS..

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CNXNIFTY ( DAILY CHART )



BANKNIFTY (DAILY CHART)


BANKNIFTY

As stated broader range of index 17500/18400 in last week, we still didn’t change our view on index as we see supply at higher levels (between ranges of 18550 to 18750).

Coming week also we expect the same range 17500/18400 with limited upside at 18750.










CNX MIDCAP

With bullish view in last week, index has almost made week on week new high above mentioned level of 13050 making high of 13149.10.

Last week index has also failed to cross its important level of 13200 on closing basis suggests some profit booking activity in same.

Coming week further profit booking not ruled out below the level of 13050 on closing basis.




CNX SMALLCAP

Though index has given week on week positive close with high of 5564.80, but failed to cross the reversal level of 5600 on closing wise.

We advise to maintain strict stop loss of 5380 on closing basis as further upside is capped at 5600 levels in coming week.


{May 23,2015}


























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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