WEEKLY NIFTY LEVELS


Updated every Monday, on weekly basis.
16 Jan 2017 (Monday)

NIFTY (Cash)

Market Short-term trend : For Short-term positions

Market caution near resistance 8500
Consolidation possible

Market in last week, it has closed with a cautious trend near 8300 levels.
Nifty expected to witness a consolidation in this week.
Nifty incase of a possible recovery, then the major resistance above is at 8500.
Nifty has to close strong above 8500, for atleast two days, for a further uptrend
Then the next major resistance above is at 8700, in short-term.
Incase of any further weakness and if closes below 8400, then it indicates a further caution.
Then the next support below is at 8300.
Only in-case of a further close below 8300, then it indicates a short-term correction.

Disclaimer: This content is only for Education and for Information purpose. There is risk of loss in the stock markets and it is not suitable for all Investors/Traders. Returns in the market are dependent on market conditions. The analysis made herein is based on Technical Analysis, and is subject to change. Readers of this column are advised to use their own discretion before trading or investing in the financial markets and they are only solely responsible for their actions.

 
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