Going into a new week, it looks like Nifty is headed for a make-or-break week.
Friday is likely to see levels of 10,180 and 10,250 acting as a potential resistance area.
It will be important for Nifty to sustain above 10,180-10,250 levels and avoid fresh weakness.
The levels of 10,210 and 10,295 will be immediate resistance for Nifty50 on Wednesday.
On Monday, the 10,350 and 10,435 levels are likely to act as immediate resistance for Nifty.
The equity benchmark ended the week 168.95 points, or 1.61 per cent, down.
Chances are we will see a relatively stable opening for the market on Friday.
The RSI on the daily chart stood at 41.2200 and it has marked a fresh 14-period high.
The levels of 10,550 and 10,615 are likely to act as immediate resistance area on Tuesday.
The Nifty50 has managed to move past its important pattern resistance level at 10,400.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon