7 November 2015

NIFTY CHART & NIFTY WEEKLY REPORT UPCOMING WEEK FOR MONDAY 09 NOVEMBER 2015

DAILY RESISTANCE FOR NIFTY: 8025, 8065, 8144, 8157
PIVOT POINT: 7986
DAILY SUPPORT FOR NIFTY :  7946, 7907, 7828,7749

DAILY CHART FOR NIFTY





















WEEKLY RESISTANCE FOR NIFTY: 8097, 8126, ,8206,8376
PIVOT POINT: 8036
WEEKLY SUPPORT FOR NIFTY :  7927, 7866, 7696,7526
WEEKLY CHAT FOR NIFTY






















The Sensex and Nifty slid for the second consecutive week on account of some selling pressure by foreign institutional investors amid uncertainty on the political front, weak rupee and mixed quarterly results. Benchmark indices plunged around 1.5 per cent for the week ended November 6, 2015.During the week, Sensex and Nifty lost 391 points and 111 points to close at 26,265 and 7954, respectively, on November 6. The festive season of Diwali is almost here but there are no fireworks as yet in the market. The Indian equity market extended its declining trend for the second consecutive week as unabated selling pressure dragged Nifty below 8,000. For the week, Sensex closed at 26,265 and Nifty closed at 7,954 down by 1.3% each.
TECHNICAL ANALYSIS FOR NIFTY
We had mentioned in last week’s closing report that Nifty, Sensex are weak and that while Nifty may bounce back during the week, the rallies will be met by selling until Nifty reclaims 8,200.still Nifty having 200 ema at 8200 level and 55 ema at 8122 as a strong resistance for rally. Over the week, the indices steadily lost ground though making small losses in each day’s trading. Considering the whole week, the losses have been on the scale of 1%-1.5% in each of the indices. Based on the current cautious mood of the investors, it can be said that the indices are not likely to make big gains immediately next week, even though we expect a small rally. This week Nifty was in a range of 8145 - 7946 in November series. now don't expect much downside below 7800 in Nifty in November series.
AS PER TECHNICAL,
ABOVE 8100 IT IS BULLS AREA 
BULLS CAN TARGET 8150 AND 8300,
BELOW 7950 BEARS ARE ALSO CAN BE ACTIVE  
BEARS CAN TARGET 7900 AND 7800,

4 comments: