NIFTY
OPEN INTEREST AND VOLUME
Nifty closed the week on positive note gaining around 2.40%.
As we have mentioned last week, that resistance
for the index lies in the zone of 11100 to 11200 where the index has formed a
top in the month of January-2018. If the index manages to
close above theselevels then the index can move to the levels of 11400 to
11500. During the week the index manages to hit a high of 11283 and close the
week around the levels of 11278.
Support for the index lies in the zone of 11100 to 11200 from
where the index broke out of earlier high. If the index manages to close below
these levels then the index can drift to the levels of 10900 to 11000 from
where the index broke out of double top and triangle pattern.
The index is trading at all time high so virtually no resistance
exists. Resistance for the index lies around 10400 to 10500 where target of
triangle break out pattern lies. If the index manages to close above these
levels then the index can move to the levels of 10700 to 10800.
· Broad range for the week is seen from 11000 on downside &
11500 on upside.
Resistance and
Support (daily)
• Resistance
1 -
11280 Support
1 - 11171
• Resistance
2 - 11340 Support
2 - 10970
• Resistance
3 -
11557 Support
3 - 10785
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