NIFTY OUTLOOK: CLOSE 8805.05
Last week we have updated 8660 above 8860 now already made high 8823 higer level expected resis level 8847-8873-9012 any of this level nifty can face resis level and sell off can be expected already nifty rally 9 days happen from dec to april we have seen nonstop rally happen till 9 days. now any break below 8740 will be sign for weakness in mkt also 9000 option facing resis point and major supp showing 8500 in option segment.. also 15th april gann date coming also all earning season result starting from this week. B group stock still will be in limelight stock specific movement will continue in b group sector rotation we have seen in this week still banking banknifty 19500 is key resis to cross this week feel some distribution at higher side can happen 2 days we have seen nifty in stiff range closing also happen in same narrow range. now nifty fut cross and close above 9000 on weekly basis we can see next further upmove in mkt else some distribution and profit booking can be expected in coming days and week (ALSO i was mentioning for rsi resis last week i told 66 rsi is resis point on daily chart still 57.77 so unless not cross 66.2 dont overtrade at higher level ). more update i will update during mkt hour and stock specific.
(happy sunday aayeshatech)
