NIFTY
OPEN INTEREST AND VOLUME
TECHNICAL ANALYSIS NIFTY
OPEN INTEREST AND VOLUME
TECHNICAL ANALYSIS NIFTY
[TECHNICAL ANALYSIS]
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
these levels 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 -
11447 Support 1 - 11230
• Resistance 2 -
11549 Support 2 - 11093
• Resistance 3 -
11621 Support 3 - 10925
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