Market can move in either direction purely based on news related to and Geo-political events. Other important aspect that can give direction to the market US Fed taper and Local Election results in some important states in India. Important levels to watch for on the up side will be 17303, 17393 and 17433 which will act as resistances. Above these levels in case of...
Data from US and Hawkish Fed spoiled the rally started by DII and retail investors who were on a buying spree. The support levels to watch on Nifty in the coming week will be Friday low of 17303, 17214 and 17119. 17119 will be a major support below which we will see sheer weakness in the market where bears would come into play and take market to 16840 or 50 days...
Nifty was going well till it met resistance as expected near 17794 zone where it made this week’s high. In order to surpass the zone and go towards 18K+ Nifty needs to close above 17627 conclusively which is immediate resistance. Other important resistance being the zone near 17800 and 17903. Supports on the lower side will be 17257, 16838 major support on the...
What we saw during most of last week starting from 18th Jan was an exhaustive selling rally lead by massive fall in IT index. On Friday Nifty formed a Green Doji indicating that further downside might be limited if NIFTY can sustain above 17707 which was high of Friday and more specifically above 17779 in the coming week. Resistances on the upper side if Nifty...