NIFTY NEXT WEEK PREDICTION & CHARTS FOR 30 APR TO 04 MAY 2018

WEEKLY RESISTANCE FOR NIFTY: 10654,10696,10800,10904

PIVOT POINT: 10592

WEEKLY SUPPORT FOR NIFTY :  10550,10488,10384,10280

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 10765,10806,10910,10962

PIVOT POINT:10702

DAILY SUPPORT FOR NIFTY :  10661,10598,10546,10494

DAILY CHART FOR NIFTY

Sensex opened the week at 34403, made a high of 35036, low of 34403 and closed the week at 34969. Thus the Sensex closed the week with a gain of 554 points. At the same time, the Nifty opened the week at 10600, made a high of 10744 low of 10554 and closed the week at 10723. Thus the nifty closed the week with a gain of 128 points.  Indices ended sharply up on Friday at two-month highs, triggered by corporate earnings and taking cues from global peers. Markets begin May series on a stellar note with both Nifty and Bank Nifty index futures witnessing more than 1% gains. The rally in the indices was backed by strong build-up on the long side.

for nifty HAVE TO WATCH 10950 as strong RESISTANCE level

As predicted by us in our last weekly report “nifty seen 22&55 ema @(10400) and 200 ema @(10165)as strong support  level “and exactly same happened. They managed the support level of 10400 and pull nifty above the given resistance levels of 10600 and achieved all the target at 10720 and closed the week with made a high of 10744. And for now nifty will see 10630,10590 as support levels and 10800,10950 as a resistance level. 

                                                  NIFTY have managed to take resistance at the very important level of 10950. Nifty will be in the positive zone a pull-back will seen above 10800 levels and positive rally in Nifty would be open for 10840, 10880, 10920, and 10950. On the other hand below 10600 downtrend open for 10570-10530-10500-10470 for the Nifty.

The support for the Nifty is 10600-10570-10530 and the resistance for the nifty is 10800-10840-10880-10950 levels.               

TECHNICALLY SPEAKING.

          This week, the indices short-term average of 22dma Nifty – 10490 close above it. The indices continue to remain above the medium term average of 55dma Nifty – 10440 and above the long-term average of 200dma Nifty 10190. MACD and Price ROC are both positive and in buy mode. RSI (68) suggests bullish momentum. Thus the trend in the long term has remained bullish whereas the trend in the medium term timeframe continues to remain bullish.