Nifty Index suges 1.40% in previousweek and closed at 10265. Nifty trends for the week is bulish.
Index traded last week in band of 10000 to 10400 with a strong support of 10000 and strong resistance of 10500. If Index manages to close below these levels than Nifty can drift below upto 10700 levels. During the last week Index hit a low of 10033 and closed on weekend around 10266.
Support levels for Index is 10000 to 10500 this week and medium support level for Index is lying around 10100 levels, which is the low of November 2017. If Index breakes 10000 levels on down side than we can see the levels of 10700, which is the low of August and September 2017.
Resistance for Index is around 10200 to 10300, where short term MA and Break Down levels are lying. If Nifty manages to close above these levels than we can see the uper levels of 10500 this week.
Nifty Trends – Bulish
Broad Range – 10000 – 10500
Strong Resistance – 10500
Strong Support – 10000