NIFTY SNAPSHOT
OPEN INTEREST AND VOLUME
TECHNICAL ANALYSIS NIFTY
Weekly View of Nifty
Nifty opened the week
at 10600 made a high of 10744 and low of 10554 and closed the
week at 10723. Thus the Nifty closed the week with a Gain of 123
points. The Nifty 50 witnessed a breakout in morning trade which pushed the
index above 10640 and then 10700 levels in trade. The index failed to close
above this level making a bullish pattern similar to opening marubozu candle on
the daily charts. It represents extreme bullish behavior and is formed with a
long white body that has an upper shadow but no lower shadow. It has to
continue to hold above 10638 zones to extend its move towards 10737 then 10800
zones while on the decline supports are seen at 10580 then 10550 levels.
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