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The benchmark index opened by gapping down ~170 points for the week and continued to witness selling oppression in the next three sessions. The index rebounded sharply from the conjunction of multiple supports like the pivot near 16800, 50 WEMA, and 20 WMA managing to reclaim the 200 EMA demarcation. The tepid pullback was arrested near the breakout zone of the double top reversal pattern coupled with the previous gap-down area acting as resistance. Going forward it will be crucial for the index to steer and sustain above the 17330 levels to attract further bullish momentum. The support comes near 17000 – 16800 – 16650 whereas resistance is near 17170 – 17330 – 17420

The After reclaiming the 200 DEMA in the penultimate trading week, Nifty saw a sharp technical pullback from the said support coupled with 50WEMA. It advanced 573 points crossing above the pivotal resistance of 17330. However, the index pared its gains from highs near 17430 after witnessing selling pressure and slipped below 17330. The index is currently trading within the gap-down area of 17330-17160. Going forward it will be crucial for the index to decisively reclaim 17330 and sustain to attract further bullish momentum. The support comes near 17150 – 16800 – 16340 whereas resistance is near 17330 – 17500 – 17970.

Index opened the week with gap down and remained volatile as the week progressed, ending the week with minor loss. Index has formed inside bar candlestick pattern suggests squeeze in volatility. Also, near the same juncture Nifty has been taking support at 20 WEMA from last 3 weeks indicating key support to watch out for. RSI is placed around a neutral zone (50 levels) highlights indecisive behaviour. Going ahead index has immediate support around 17000-16800-16600. While on the higher side resistance is present around 17320-17550-17800.

Index opened on a positive note after consolidating around 20 WEMA for the past three weeks and ending the week on a strong note. Index has surpassed above 61.8% retracement levels, as well Nifty seen forming Bat harmonic pattern which gets completed around 17950 levels. Thus going forward in the short term, till index holds above 17600, index is expected to head higher towards 17800-18100. Whereas support past 17600 comes at 17480-17200.

Nifty opened the week on a positive note and traded in a narrow range throughout the week forming a small weekly candle, ending the week with minor gains. Index has surpassed falling resistance trendline hints at a bullish signal for medium term trend. RSI placed around 60 levels, sustenance above the same will offer further momentum in price action. Going ahead index has an intermediate resistance around 17800-17950-18100. While support is seen around 17600-17450-17300.

Index opened the week with a bullish gap up and continued to scale higher as the week progressed ending the week on a strong note. Index surpassed its previous swing high which denotes strength in trend. Going ahead till index manages to hold above 18000, Nifty is expected to head higher towards 18280-18450-18600. Whereas support past 18000 comes at 17850-17680-17400.

Nifty 50 remained highly volatile throughout the week, however, it ended the trading week with modest gains of 233 points. Nifty remained jittery ahead of the US inflation data and jolted on improved inflation numbers towards the all-time level tracking global cues on relatively stronger volume on Friday. Going forward in the rally attempt trend, a follow-through week towards the all-time high level at 18604 will be crucial to attracting further bullish momentum. The support for the week comes near 18180 – 17920 – 17780 whereas resistance is near 18350 – 18450 – 18600.

Nifty opened in red for the week and largely remained in the range of 230 points throughout the week in paucity of volumes. This allowed the index to escape distribution days on a couple of occasions in the week. On Friday, it witnessed a tepid technical pullback from the shorter term EMA which formed a small body spinning candle on the weekly timeframe showing indecision going forward. It will be crucial for the index to see a follow-through week to attract further bullish momentum. The support for the week comes near 18100 – 17950 – 17800 whereas resistance is near 18350 – 18450 – 18600.

Nifty opened the week on a weak note but recovered strongly finding support around 18150, to end the week on a strong note with a gain of 1.12% Index rebounded smartly finding support around its previous resistance zone highlighting the law of polarity into play which is a bullish signal. RSI inching higher and trading above 60 levels shows momentum in price. Going ahead index has an immediate support around 18280-18100-17900. Whereas on the higher side resistance comes at 18620-18880-19000.

Nifty opened on a positive note for the week and saw incremental gains until Thursday’s trading session marking a new life-high at 18887 tracking broader markets. The selling pressure intensified on Friday and ended the week above the 18600 mark which is an immediate and crucial support. The market breadth has begun to improve over the last 3 months. Overall the index showcases strength in the trend, however, a brief consolidation can be on the cards before it continues its upside spree. The support for the week comes near 18670 –18550 – 18350 whereas resistance is near 18780 – 18900 – 18950.