Updated every Monday, on weekly basis.
20 Feb 2017 (Monday)

NIFTY (Cash)

Market Short-term trend : For Short-term positions

Market major resistance at 8900

Market in last week, it has closed indecisively near 8900 levels.
Market is still in short-term overbought position, for the short-term investors to be cautious
Nifty expected to witness a cautious trend at higher levels
Nifty incase of any further uptrend, then it has the next major resistance at 8900
Nifty has to close strong above 8900, for a further uptrend
Then the next major resistance above is at 9000.

Incase of a possible weakness, then the next support below is at 8800.
Market has to recover above 8800 for safety of the uptrend
Only in-case of a decline below 8800, then it indicates a weakness.
Then the next major support below is at 8700
Market has to recover above 8700 for a safety.
But in-case of any further weakness and if closes below 8700, then it indicates a short-term correction

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