WEEKLY
RESISTANCE FOR NIFTY: 9380, 9413, 9431, 9450
PIVOT
POINT: 9347
WEEKLY
SUPPORT FOR NIFTY : 9328,9277,9244,9192
WEEKLY CHAT FOR NIFTY
DAILY RESISTANCE FOR NIFTY: 9337, 9351, 9368,9385
PIVOT
POINT: 9323
DAILY
SUPPORT FOR NIFTY : 9306, 9288, 9275,8230
DAILY CHART FOR NIFTY
Sensex opened the week at 29932, made
a high of 30159, low of 29828 and closed the week at 29827.
Thus it closed the week with a loss of 84 points. At the same time the Nifty
opened the week at 8337, made a high of 9384, low of 9281 and
closed the week at 9315. Thus the Nifty closed the week with a loss of15 points.The
indices settled lower on Friday as banking stocks dipped after the government notified the
Banking Regulation (Amendment) Ordinance, 2017, while a drop in crude prices
dragged down oil explorers such as ONGC and Oil India.
TREND STILL POSITIVE.
A big bearish candle formation on Friday
has the Bulls worried. But the Bulls need to keep in mind that the Trend across
short and medium term timeframe still remains upward. Also a strong
Support exists at the Bullish Gap between 9250-9225. A break of this Support
will turn the short term trend down and then the market will enter into a
Correction mode. Current Upward Rally will resume only when the indices close
above the failure point i.e. top of bearish candle of Friday Nifty 9377).