Nifty has opened the September series with a positive note. Again the week closed by making a new high for the week. All the 5 sessions in this week has witnessed higher high and low formation. While the outlook remains positive, we need to be extra cautious as there could be some down side move to fill few gaps created during the gap up made for the past 5 sessions. 11310-275 could be the level which nifty may visit during the month of September to fill these gaps. On a weekly basis, supports are at 11450 while nifty faces resistance at 11660/750.
Watch out to confirm whether nifty continues the higher high formation or not to remain long in the index.
Level for nifty next week - Support at 11275/11400 Resistance 11660/750
Bank Nifty support 24060 Resistance 25166. Closing above 25166 on a daily basis means nifty heading for 27050.
Good luck!
No comments:
Post a Comment
Note: only a member of this blog may post a comment.