Nifty Outlook for the Week (Nov 09,2020 – Nov 13,2020)

Currently nifty 50 index is trading above200 days rapid moving typical and recommends long term pattern is bullish. EquityPandits expert predicts range for the week is seen from 11200 on disadvantage and 12100 on advantage.

NIFTY 50 index opened flat and dragged in early part of the week. Bulls made a failed attempt to raise indices again in 2nd half. Index succumbed in later half of the week back of weak international hints. We anticipate indices continue stay under pressure ahead of United States presidential election outcome.

Weekly High: 11,942.85.

Weekly Close: 11,642.40.

Weekly Support & & Resistance For Nifty Index:.

Technically on the everyday charts we see small support on the disadvantage for nifty 50 index lies at 11400 levels, whereas minor resistance on the benefit is capped around 11800-11850 levels.

RESISTANCE 2.
12,114.

RESISTANCE 1.
11,878.

NIFTY 50 Index closed the week on unfavorable note losing 287.95 points 2.50%.

ASSISTANCE 1.
11,470.

Weekly Low: 11,535.45.

SUPPORT 2.
11,299.

If cool 50 index breaches minor support on the downside and closes listed below it, we might see fresh break down and index can drag towards major support on lower side around 11100 and if breaches minor resistance on the upside and closes above it, we may see fresh breakout and index can head towards higher levels around 12200.

For the Week: (Nov 09,2020– Nov 13,2020).

NIFTY 50 index opened flat and dragged in early part of the week. Bulls made a failed effort to lift indices once again in 2nd half. Index yielded in later half of the week back of weak international hints. We expect indices continue remain under pressure ahead of United States governmental election result.