The coming week will see Nifty test the 9,930 and 10,150 levels, as likely resistance.
We are likely to see a positive opening, but one has to approach the market with caution.
RSI on the daily chart stood at 70.2157 and it has marked a fresh lifetime high.
No major upward move is seen, unless the Nifty breaches these levels in a convincing manner.
Nifty faces resistance at 9,710 and 9,780 next week, while supports will be at 9,500 and 9,430.
F&O data suggests some amount of profit taking may occur, though outperformance in select stocks will continue.
We expect a modestly positive opening and expect the market to show a cautious uptick.
Wednesday will see the levels of 9,630 and 9,685 acting as important resistance levels for the Markets.
RSI stood at 56.6354 and remained neutral showing no divergence against the price.
9,545 and 9,580 levels will be important resistance levels to watch out for.
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