23 April 2018

NIFTY WEEKLY PREDICTION & CHART FOR 23 APRIL TO 27 APR 2018

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WEEKLY RESISTANCE FOR NIFTY: 10578,10639,10669,10782
PIVOT POINT: 10535
WEEKLY SUPPORT FOR NIFTY :  10504,10474,10422,10370
WEEKLY CHART FOR NIFTY


















DAILY RESISTANCE FOR NIFTY: 10596,10617,10640,10706
PIVOT POINT:10574
DAILY SUPPORT FOR NIFTY :  10551,10530,10475,10442
DAILY CHART FOR NIFTY
Sensex opened the week at 34157, made a high of 34524, low of 34110 and closed the week at 34415. Thus the Sensex closed the week with a gain of 230 points. At the same time, the Nifty opened the week at 10441, made a high of 10597 low of 10431 and closed the week at 10595. Thus the nifty closed the week with a gain of 100 points. Sensex and  Nifty closed higher on Friday. The NSE IT index gained about 5 per cent, with the country's top software services exporter Tata Consultancy Services Ltd marking its record closing high. The nifty ended up by 12  points or 0.2 per cent at 10,595, gaining 0.8 per cent for the week. The sensex gaining 0.6 percent for the week. Both indexes marked a fourth consecutive weekly gain.                     

nifty seen 22&55 ema @(10400) and 200 ema @(10165)as strong support level

As predicted by us in our last weekly report “NIFTY WILL TRADE ABOVE 55 ema (10380)as strong support level and exactly same happened. They managed to pull nifty above the support levels of 10380 and achieved all the target at 10590 and closed the week with made a high of 10597. And for now nifty will see 10550,10500 as support levels and 10600,10640 as a resistance level.                    
                               NIFTY have managed to take resistance at the very important level of 10600. Nifty will be in the positive zone a pull-back will seen above 10600 levels and positive rally in Nifty would be open for 10630, 10670, 10720, and 10750. On the other hand below 10530 downtrend open for 10500-10490-10455-10430-10400 for the Nifty.
The support for the Nifty is 10400-10370-10330 and the resistance for the nifty is 10600-10640-10720-10750 levels.               
TECHNICALLY SPEAKING.
          This week, the indices short-term average of 22dma Nifty – 10400 close above it. The indices continue to remain above the medium term average of 55dma Nifty – 10400 and above the long-term average of 200dma Nifty 10165. MACD and Price ROC are both positive and in buy mode. RSI (64) 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.

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