WEEKLY RESISTANCE FOR NIFTY: 11150, 11250, 11350
PIVOT POINT: 11000
WEEKLY SUPPORT FOR NIFTY: 10900, 10800,
10700
WEEKLY CHART FOR NIFTY
DAILY RESISTANCE FOR NIFTY: 11125, 11175, 11225
PIVOT POINT:11100
DAILY SUPPORT FOR NIFTY : 11050, 11000, 10950
DAILY CHART FOR NIFTY
The Market started the week marginally negative as the Nifty
sneaked below 10900 in the first 15 minutes of the trade. However, this early
morning dip was bought into as the index recovered sharply to reclaim the 11000
mark. For rest of the session the index consolidated in a range to end around
11000 mark. Post a mid-week holiday on Tuesday our markets started on a mild
positive note on Wednesday. Subsequently, there was no major action in index
front and after consolidating in a range for the most part of the session,
Nifty eventually ended near the opening levels with gains of 0.30% at 11036. Although
the index started the session marginally positive on Thursday, the Nifty lacked
follow up momentum during the day. Post noon, the index corrected for rest of
the session and ended the day with a loss of about half a percent. On Friday the Sensex - which switched direction at least eight times during
the session after opening higher - moved in a range of 413 points, before
settling with a gain of 280 points at 37384 for the day. The Nifty recovered as
much as 138 points from an intraday low of 10945 to touch 11084 at the day's
strongest level, before shutting shop on Friday at 10982.
NIFTY:
A STRONG SUPPORT WILL BE @ 11800; STRONG RESISTANCE LEVEL SEEN @11300