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WEEKLY RESISTANCE FOR
NIFTY: 9180, 9204, 9230, 9255
PIVOT POINT: 9150
WEEKLY SUPPORT FOR
NIFTY : 8980,8890,8840,8780
WEEKLY CHAT FOR NIFTY
DAILY RESISTANCE FOR
NIFTY: 9220, 9255,9263,9300
PIVOT POINT: 9180
DAILY SUPPORT FOR
NIFTY : 9150, 9120, 9080,9050
DAILY
CHART FOR NIFTY
Sensex opened the week at 29437, made
a high of 29824, low
of 29356 and closed the
week at 29648. Thus it
closed the week with a gain of 702 points.
At the same time the Nifty opened the week at 9091, made a high of 9218,
low of 9060 and closed
the week at 9160. Thus the
Nifty closed the week with a gain of 226 points.
ONCE AGAIN ITS
MODI.
After undergoing a consolidation for 7 years from 2007 to 2014, market
needed the Modi Touch to break the resistances and head higher. In the present
scenario, the market was under consolidation for around 2 years from 2015 to
2017 and once again, it required the Modi Push to break free. As a result, the
indices have given a bullish breakout and are now headed towards medium term
target of Sensex 34677-34715 and Nifty 10462-10536.On the daily charts, both
the indices have formed a small black body candle, but it is not a bearish
formation. On the weekly charts, both Sensex and Nifty have formed a real White
body candle after a big upward Gap. Thus both daily as well as weekly candlestick formations are suggesting a
bullish bias in the near term.