Nifty - Technical View for the next week
Updated
Current Support for NIFTY is at 11520/11525
Sustaining below 11520 may open up the downside to 11379 (Gap fill area) or 11360/65 (Strong Support Zone).
On the long side, If Nifty sustains above 11635, next possible target can be 11783 (Resistance zone).
Possible longs may be initiated either at mentioned supports with appropriate stop losses in place or on sustaining above 11635.
Sustaining below 11520 may open up the downside to 11379 (Gap fill area) or 11360/65 (Strong Support Zone).
On the long side, If Nifty sustains above 11635, next possible target can be 11783 (Resistance zone).
Possible longs may be initiated either at mentioned supports with appropriate stop losses in place or on sustaining above 11635.
Note
Target of 11783 has been achieved in just 2 trading sessions due to good upside momentum. CMP is 11783.Now a close above 11783 may open up the next target of 12000.
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