In our previous Weekly note, we had mentioned about the critical importance of the 10820-10850 zones and likelihood of volatility creeping into the Markets. Much on the expected lines, NIFTY struggled throughout the week to move past this resistance zone of 10820-10850 levels but still ended in between these critical levels. In the meantime, all throughout the week, it continued to resist to this important pattern resistance area. NIFTY ended the week absolutely flat with negligible gains of 4.15 points or 0.04% on weekly basis.
(Research Analyst, SEBI Reg. No. INH000003341)
CMT Association (Formerly known as Market Technicians Association, (MTA), USA
Canadian Society of Technical Analysts, (CSTA), CANADA
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