Weekly Equity Report

Nifty Weekly View

Nifty trimmed its gains amid volatility and closed last session of the week higher after the government maintained its fiscal discipline, and provided stimulus to farmers and tax payers through several schemes in its last Budget ahead of general elections 2019. The index formed bullish candle on the daily charts, which resembles a ‘Shooting Star’ kind of pattern while for the week also, it formed bullish candle.

Weekly Chart

Bank Nifty Weekly View

Bank Nifty remained under pressure as it failed to hold above 27,500 zones and drifted towards 27,000 zones. The index closed lower at 27,085.95. It formed a bearish candle on daily charts and a Long Legged Doji on weekly scale which indicates an absence of follow up buying at higher zones.

Weekly chart

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