www.9opt.com is defining the Nifty Index trend for the week of Nov 06 2017 to Nov 10 2017.
Nifty index surges 1.25% in previous week and closed at 10452.50, after achieving all time high at 10461.70 on Friday. Nifty Next Week trend is explained below.
Index traded last week in a band of 10350 to 10500 with a support of 10300. Index traded for last full week above October’s high. Super-trend meeting with the line of September and October’s high line.
Minor Support level of Index for the week is 10350 – 10400 but Strong Support Level for Index is marked at 10225, where Moving Average, Super-trend and Two Month’s high lines are intersecting. If Nifty breaks these levels, Index can show 10100/10000 Levels.
Nifty struggled last week with a Strong Resistance Level of 10450 – 10500. If Nifty breaks this level than we can see 10650 to 10750 levels in next week.
All over trend of Index is very Bullish next week. As, we mentioned above, if Nifty manages to close above 10500 levels, we’ll see a amazing rally towards 10650 to 10750.
Trend For Next Week – Bullish
Upwards Levels For Next Week – 10650
Strong Resistance – 10500
Strong Support – 10225
Broad Range of Trading for Next Week – 10200 – 10700