Nifty has achieved its measured targets and is now expected to take a minor breather.
Nifty’s weekly high of 11,110 might act as immediate resistance along with the 11,235 level.
Here are important technical points that suggest what's in store in the short-term horizon.
Expect a flat start on Thursday along with a good amount of volatility owing to rollover.
Volatility is expected to rise as we enter the penultimate day of derivatives expiry.
The levels of 10,990 and 11,075 will act as immediate resistance levels for the market.
The Nifty has ended above the upper Bollinger band on both daily and weekly charts.
The Nifty ended the week, posting a net gains of 213 points, or 2.00 per cent.
The 10,865 and 10,900 levels will be the key resistance in any upmove of the Nifty50 index.
With the market ending near the day's high on Wednesday, the upmove is likely to extend.
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