Nifty CMP- 11050.25
Last week we seen a phenomenal fall in index prices as Nifty price slide from 11500 range to 10800. During this period Nifty closed its September month contracts on Thursday when index closed the session just above 10800 range. However on Friday we have seen a rise in price and the session was dominated by the bulls.
As for the coming week, we anticipate the following price action –
Above is the Nifty 5 min chart illustrating the important support and Resistance levels for the coming days.
A major support can be found near 10700/30 range. On the other hand 11140 shall act as an immediate Resistance for the Nifty.
Apart from 11700 one should also closely observer the price action near 10920 and 10835 as they are key support for the Nifty.
We anticipate that along with 11140/75 range Nifty may face Resistances @ following levels – 11240/11315/11421.
One can expect high volatility on 1st Oct.
Daily Nifty spot levels are posted @ Nifty Spark page.