Nifty Future closed the week at 10927.15
As per Technical Analysis of Nifty weekly report
- Nifty future closed positive on a weekly basis
- Nifty future managed to sustain above 200 DMA
- Buyers are using the market dip to enter longs.
- Nifty future closed lower than the opening on Friday trading session
- Nifty future closed lower than open since last three trading sessions.
- Nifty future unable to sustain 10950 since last few weeks.
The Road Ahead For Markets
Nifty must sustain 10950-10970 in the coming week that will be a 1st sign that the supply is getting exhausted. Once it crosses 10970 with volume it will run for 11070-11000 in coming days.
If nifty managed to hold above 11000 expect a euphoric rally going towards expiry and Feb series.
On the downside, the support of the market is at 10850-10775