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Nifty Outlook : Trend For The Week Of 05 Mar 18 – 09 Mar 18

Nifty closed the week on negative note losing around 0.30%.

During the last week resistance for the index lies in the zone of 10650 to 10750 from where the index has opened gap down. If the index manages to close above these levels then the index can move to the levels of 10900 to 11000 from where the index broke down after consolidation.

During the last week the index manages to hit a high of 10632 and close the week around the levels of 10458. Support for the index lies in the zone of 10400 to 10500 where break out levels and medium term moving averages are lying. If the index manages to close below these levels then the index can move to the levels of 10200 to 10100 .

Conclusion:

# Broad range for the week is seen from 10200 on downside & 10900 on upside.
# Minor Support – 10400
# Strong Support – 10100
# Minor Resistance – 10650
# Strong Resistance – 10900

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