NIFTY CHART & NIFTY WEEKLY REPORT UPCOMING WEEK FOR MONDAY 03 NOVEMBER 2015

DAILY RESISTANCE FOR NIFTY: 8162, 8230, 8346, 8462

PIVOT POINT: 8114

DAILY SUPPORT FOR NIFTY :  8046, 7998, 7882,7766

DAILY CHART FOR NIFTY

WEEKLY RESISTANCE FOR NIFTY: 8422, 8550, ,8608,8951

PIVOT POINT: 8294
WEEKLY SUPPORT FOR NIFTY :  7865, 7637, 6980,6323

WEEKLY CHAT FOR NIFTY:

Bears dominated bulls in the equity markets this week as the benchmark indices plunged nearly 3 per cent for the week ended October 30.During October 23 and October 30, the Sensex and Nifty declined 814 points and 230 points to 26,656. and 8,065, respectively. Sensex and Nifty were at 27,470 and 8,295 on October 23.

TECHNICAL ANALYSIS FOR NIFTY

TUG OF WAR BETWEEN BEARS & BULLS  NEAR 8200 IMPORTANT MARK! as we saw in the last week, nifty future gained by 45 points As per weekly closing basis (8259 to 8304).nifty future finally closed weekly  above 8000 important support level .this is the second consecutive  weekly closing above 8000 level after September 2015 series low of 7560.technically! overall trend is bullish above 7541 level on  larger time frame charts, and short term trend now looking bullish above 8200 level or it will remain bullish for next week’s unless it will not break and closed weekly below 8200 important support mark. So, for the coming week it is possible to buy on lower levels with closing basis stop loss of 8200 levels.

AS PER TECHNICAL,

ABOVE 8200 IT IS BULLS AREA 

BULLS CAN TARGET 8300 AND 8400,
BELOW 8000 BEARS ARE ALSO CAN BE ACTIVE  

BEARS CAN TARGET 7900 AND 7637,