Nifty Trend 14-01-2019

nifty trend

Nifty Trend For the week starting 14-Jan-2019

Nifty closed the week on a negative note at 10827.60, Even thou it was a negative close but it is still a higher close than the prior week which is good news for the bulls.

As per the Technical Analysis, the resistance area is marked on the chart with horizontal trendline which is around 10900-10950. We can also see price consolidation in a narrow range highlighted with yellow colour.

10750-10700 is the Strong Support area for Nifty, below this level expect a sharp sell-off towards 10350-10300

The uptrend will resume once 10950 is taken out convincingly.

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