Nifty closed the week on positive note gaining around 1.50%.
As we have mentioned last week, that support for the index lies in the zone of 10000 to 10100 where medium term moving averages and break out levels are lying. If the index manages to close below these levels then the index can drift to the levels of 9650 to 9700 where 200 daily moving averages and lows for the month of August-2017 and September-2017 are lying. During the week the index manages to hit a low of 10075 and close the week around the levels of 10493.
Minor support for the index lies in the zone of 10300 to 10400. Support for the index lies in the zone of 10000 to 10100 where medium term moving averages and break out levels are lying. If the index manages to close below these levels then the index can drift to the levels of 9650 to 9700 where 200 daily moving averages and lows for the month of August-2017 and September-2017 are lying.
Resistance for the index lies in the zone of 10600 to 10700 where trend-line joining highs formed in the month of September-2016 and August-2017 is lying. If the index manages to close above these levels then the index can move to the levels of 10900 to 11000.
Broad range for the week is seen from 10200 on downside & 10800 on upside
MORE WILL UPDATE SOON!!
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