NIFTY
OPEN INTEREST AND VOLUME
TECHNICAL ANALYSIS NIFTY
Nifty closed the week on absolutely flat note.
As we have mentioned last week, that minor support for the
index lies in the zone of 10700 to 10750. Support for the index lies in the
zone of 10500 to 10550 where Fibonacci levels and medium term moving averages
are lying. If the index manages to close below these levels then the index can
drift to the levels of 10300 to 10400 where long term moving averages and
Fibonacci levels are lying. During the week the index manages to hit a low of
10701 and close the week around the levels of 10822.
Minor support for the index lies in the zone of 10700 to
10750. Support for the index lies in the zone of 10500 to 10550 where Fibonacci
levels and medium term moving averages are lying. If the index manages to close
below these levels then the index can drift to the levels of 10300 to 10400
where long term moving averages and Fibonacci levels are lying.
Resistance for the index lies in the zone of 10900 to 11000
where the index has formed a high in the month of May-2018. If the index
manages to close above these levels then the index can move to the levels of
11100 to 11200 where the index has formed a top in the month of January-2018.
Broad range for the week is seen from 10600 on downside
& 11000 on upside.
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