WEEKLY RESISTANCE FOR NIFTY: 8455, 8478, 8496, 8514
PIVOT POINT: 8431
WEEKLY SUPPORT FOR NIFTY : 8413,8395,8372,8348WEEKLY CHAT FOR NIFTY
DAILY RESISTANCE FOR NIFTY: 8398, 8414, 8439,8465
PIVOT POINT: 8383
DAILY SUPPORT FOR NIFTY : 8357, 8332, 8312,8300
DAILY CHART FOR NIFTY
Sensex opened the week at 27215, made a high of 27418, low of 27034 and closed the week at 27034. Thus it closed the week with a gain of 459points. At the same time the Nifty opened the week at 8404, made a high of 8468, low of 8352 and closed the week at 8363.Indian stock markets extended losses where both Nifty and Sensex tumbled as much as 1%. Nifty hit below 8380 mark and closed at 8363 while Sensex shed 274 points and closed just above 27000 mark at 27034.Nifty closed below 8380 for the first time in 8 sessions.
SHORT NIFTY ONLY BELOW 8350 WITH STOP LOSS 8400
Nifty has to cross and hold above 8480 zones to witness follow up bounce back move towards 8550 and 8620 zones. On the downside it has support near to 8350 and below that selling pressure may drag it towards 8200 zones.Friday,The Nifty futures contract started the session on a negative note, opening at 8,400 levels.It recorded an intra-day high at 8,434 and resumed its fall. The contract decisively breached the immediate support level at 8,380 and marked an intra-day low at 8,352 levels.