nifty share price – Market Outlook for this Week !
nifty share price – Nifty started the week on a flat note however buying momentum throughout the week led the index to end on a strong note.
Nifty closed at 17698 with a gain of 301 points on a weekly basis. On the weekly chart the index has formed a long bullish candle forming higher
High-low compared to previous week and has closed above previous week’s high indicating positive bias.
The chart pattern suggests that if Nifty crosses and sustains above 17800 level it would witness buying which would lead the index towards 18000- 18300 levels.
However if the index breaks below 17600 level it would witness selling which would take the index towards 17300-17000.
nifty share price
Nifty CMP- 17698
nifty share price – Tech Stock for this Week-KPIT Technologies Limited
On the daily time frame the stock has decisively broken out four months “multiple resistance zone” at 555 levels on a closing basis.
This breakout is accompanied with huge volumes indicating increased participation.
This buying support was observed from 20, 50, 100 and 200 day SMA’s which remains a crucial support zone. On the daily and the weekly time frame,
the stock has entered in up trend forming a series of higher tops and bottoms.
The daily and weekly strength indicator RSI is in bullish mode along with positive crossover which supports rising strength in near term.
The above analysis indicate an upside of 630-655 levels.
nifty share price
Stop Loss- 525
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