Nifty Prediction
Nifty ended the week on negative note losing around 1.00%.
As mentioned
last week that minor support for the index lies in the zone of 8800. Support
for the index lies in the zone of 8700 to 8730 from where the index broke out
of the short term top. If the index manages to close below these levels, then
the index can drift to the levels of 8600 to 8650 where short term moving
averages are lying. During the week the index manages to hit a low of 8689 and
close the week around the levels of 8780.
Support
for the index lies in the zone of 8680 to 8710 from where the index broke out
of the short term top. If the index manages to close below these levels, then
the index can drift to the levels of 8600 to 8650 where short term moving
averages are lying.
Minor
resistance for the index lies in the zone of 8850. Resistance for the index
lies in the zone of 8950 to 9000. If the index manages to close above these levels,
then the index can move to the levels of 9100 where life time high for the
index is lying.
Broad
range for the week is seen from 8600 on downside to 9000 on upside
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