TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )
NIFTY FIFTY : - The Equity benchmark Nifty 50 has opened in a flat note on Monday up by 11 points or 0.12 percent at 8583. On Monday the Nifty has took Support around 8540 and bounced back from there and closed at 8607. Market have been stuck in the trading range of 8540 to 8730 for almost a month, Now we expect that we could get clarity on breakout or breakdown in the upcoming week. Federal Reserve Chair Jennet Yellen’s speech reflected optimism over the economy and an expectation that interest rate hikes are near. The Nifty is Still in a broad range with upside resistance of being at 8820-8880 and Support at 8650-8620. There are no major Events lined up, the Nifty is expected to trade in narrow range. The Nifty is still holding bullish Pattern with a bit of pause for previous session for the further high. The Significance Resistance level for Nifty is 8800-8850 and Support level is 8650-8600.




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