WEEKLY RESISTANCE FOR NIFTY:
12350, 12400,12500
PIVOT POINT: 12200
WEEKLY SUPPORT FOR NIFTY: 12100, 12000,
11900
WEEKLY CHART FOR NIFTY
DAILY RESISTANCE FOR NIFTY: 12300, 12350, 12400
PIVOT POINT: 12250
DAILY SUPPORT FOR NIFTY: 12200, 12150, 12100
DAILY CHART FOR NIFTY
The bull's
clawed back strongly after profit booking witnessed in the earlier session.
Market breadth was healthy as midcaps and smallcaps continued to perform well.
All sectoral indices were in the green. Nifty continues to remain in a strong
uptrend & closed the week near 12250 mark .The index started trading
for the week marginally negative amidst a gap down opening in the index
heavyweight Reliance Industries. However, the index traded within a range for
most part of the session. The index witnessed a dip towards 12200 around 2.30
pm but again recovered from the lows to end the session with a negligible loss.
Monday’s session could be termed as a consolidation post the recent sharp up
move. However, one noticeable thing was the recovery at the end from the
intraday lows. In the absence of any trigger, our markets started on a flat
note on Tuesday and quite similar to the previous session traded in a range for
the major part of the day. However, during the last hour some profit booking
was seen which pushed Nifty to test 12200 levels and end tad above it with loss
of around 0.39%. Post the mid-week
holiday on Wednesday, the index started the session on a flat note on Thursday.
However, the F&O expiry session witnessed selling pressure from the start
and it crept lower throughout the session to end with a loss of about
three-fourth of a percent.
NIFTY:
A STRONG SUPPORT WILL BE @ 12000; STRONG RESISTANCE LEVEL SEEN @12400