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nifty share price – Market Outlook for this Week!

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nifty share price –  Market Outlook for this Week!

 

 

nifty share price – Nifty started the week on a positive note and remained consolidated for the most part of the week within 17850-17650 levels representing a lack of strength. Nifty closed at 17787 with a gain of 211 points on a weekly basis. On the weekly chart, the index has formed a small Bullish candle with shadows on either side indicating indecisiveness amongst participants regarding the direction.

The chart pattern suggests that if Nifty crosses and sustains above the 18000 level it would witness buying which would lead the index towards 18200- 18400 levels. However, if the index breaks below the 17600 level it would witness selling which would take the index towards 17400-17200.

For the week, we expect Nifty to trade in the range of 18400-17200 with mixed bias.

nifty share price –

Nifty CMP- 17787

Support- 17400-17200

Resistance- 18200-18400

 

nifty share price – Tech Stock for this Week-Mahindra Holidays & Resorts India Ltd.

On the weekly time frame MHRIL has decisively broken out above “multiple resistance” zone placed between 267- 277 range. Break out is witness during first week of September.

This breakout is accompanied with rising volume. The weekly strength indicator RSI is in bullish mode and sustaining above 50 mark indicating sustained strength.

nifty share price –

CMP-285

Stop Loss- 266

Target- 355

Dear Readers, if you stuck in some equity investment & need expert advice then email us, we will reply on particular stock!

Vivek Dhumale

9970847337

SEBI Registered Research Analyst

[email protected]

www.hotshotadvisory.com

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