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WEEKLY REPORT


EXTREME PESSIMISM WILL CREATE REVERSAL SOON.....







NATIONAL MARKET   


CNXNIFTY (WEEKLY CHART)



BANKNIFTY (WEEKLY CHART)


BANKNIFTY:  Though week on week Index is marginally negative by 153 points but managed to close positive by giving weekly bullish candle (Candle open was 16667.90 & close 16932.85 = +265 points) which is a good positive sign for Index in coming week.

As we mentioned in last report 16800/16750 is a good buying levels and Index manage to hold the same for last week.

We see multiple positive reversal levels around 17200 which will force the Index to cover-up by 18300/18400 levels in coming period. Coming period we are having positive outlook in index with limited downside and advice to avoid any shorts simultaneously look to better buying opportunities at current level.

 


CNXMIDCAP:  As we mentioned in our last report 12800/12740 levels are good supports and one can find investment opportunity around these levels. Index made a low of 12712.15 last week and given a weekly positive close of 12885.95.

Again 13240 is a reversal level from where index will start its bullish journey all the way up to 13700 levels.

In coming period we are having positive outlook in index.

 

CNX SMALLCAP:
Finally after two weeks Index has given a positive reversal by giving weekly positive close of 5256.Monthly supports of 5167/5188/5146 is acting as a strong supports for Index from where value buying is seen.

Again 5300 is a major reversal level from where we expect a bull run all the way up to 5800 levels.

In coming period we are having positive outlook in index.




 


INTERNATIONAL MARKET

DOW JONES: After bullish rally from the level of 15942 to upside 17977, we saw huge supply happened in last week. The Dow has given negative close 17245.24.The index has reversed from its resistance levels of 18000.Upside is capped between 17900-18000 levels.
 
We will see base formation in coming period near 17000-16700 levels.

{14 Nov,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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