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DAILY RESISTANCE FOR NIFTY: 10000, 10100, 10200
WEEKLY RESISTANCE FOR
NIFTY: 10000, 10200,10500
PIVOT POINT: 9900
PIVOT POINT: 9900
WEEKLY SUPPORT FOR NIFTY: 9800, 9600,
9400
WEEKLY CHART FOR NIFTY
DAILY RESISTANCE FOR NIFTY: 10000, 10100, 10200
PIVOT POINT: 9950
DAILY SUPPORT FOR NIFTY: 9900, 9800, 9700
DAILY CHART FOR NIFTY
Nifty opened with a gap up on Monday in line with strong
global cues, but failed to surpass its crucial hurdle at 10,333 level. It
consolidated in the initial hour of trade, but gradually drifted towards the
10,150 level in the latter part of the day. Tuesday’s session once
again saw Nifty start near the 100-DMA, which currently stands at 10276. After
testing the day’s high near 10,291, Nifty came off over 250 points from the
high point of the day. While showing no intention to recover, the headline
index ended near the low with a net loss of 120 points. Wednesday market ended in the positive territory, supported
by last-minute buying in counters such as Reliance Industries (RIL), HDFC, TCS,
ICICI Bank, and IndusInd Bank. Nifty ended at 10,116, up 69 points
. Thursday market had opened higher, shrugging off worries over the US Federal
Reserve's grim outlook for a speedy economic recovery. However, the opening
gains were soon erased as fears of a second wave of coronavirus and the Supreme
Court's (SC) observations in the adjusted gross revenue (AGR) case weighed on
market movers. the Sensex fell 708 points, to 33538, Nifty settled 214 points
lower at 9902. Friday Indian markets made a
dramatic intra-day comeback to end higher. The Sensex closed 242 points higher
at 33780 after being down about 1200 points at day's low. A positive start in
European markets, coupled with strong gains in index heavyweight Reliance
Industries, powered the recovery. Dow futures were up about 600 points. The
broader Nifty today settled 0.7% higher at 9972, recovering from day's low of 9544.