NIFTY WEEKLY TECHNICAL
REPORT
Current
Level: 11565.25
Support:
11357.60-11404.10-11477.50-11505.90
Resistance:
11597.60-11625.90-11648.90-11746.10
· Nifty can rise to
11648.90 and 11746.10 as long as it trades over 11505.90.
· Corrections upto
11454.60 are a part of the bull rally.
· Look for signs of
profit taking before the holiday tomorrow.
Better
than expected corporate results is driving the Nifty higher. Focus is on
government dealing with bank stressed assets. Over brought conditions are
there. Corrections (if any) can happen anytime. FII are aggressive investors.
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