Nifty Weekly Report 3 - 7 September:
NIFTY TECHNICAL OVERVIEW:
Nifty Futures closed at 5386 with loss of 43.50 points. After a flat openeing nifty showed volatile movement and close with net loss of 2 % from week to week.
TECHNICAL LEVELS
Support1- 5250 Support2- 5200 Resistance1- 5385 Resistance2- 5450
BANK NIFTY TECHNICAL LEVELS:
Bank Nifty Futures closed at 10070 down by 58 points. If banknifty manage to cross the level of 9950 more downward correction can be seen further.
Support1- 9950 Support2- 9800 Resistance1- 10250 Resistance2- 10450
Stock Of The WeekRanbaxy: Buy
Ranbaxy is looking bullish on a chart and taking support of 10 DMA.If it manages to sustain above its major resistance level of 560 it will give good upside movement in coming days .So we recommend Buy Ranbaxy above 560 with SL of 540 Target 580,600.
Support- 540 Resistance- 560
NIFTY TECHNICAL OVERVIEW:
Nifty Futures closed at 5386 with loss of 43.50 points. After a flat openeing nifty showed volatile movement and close with net loss of 2 % from week to week.
TECHNICAL LEVELS
Support1- 5250 Support2- 5200 Resistance1- 5385 Resistance2- 5450
BANK NIFTY TECHNICAL LEVELS:
Bank Nifty Futures closed at 10070 down by 58 points. If banknifty manage to cross the level of 9950 more downward correction can be seen further.
Support1- 9950 Support2- 9800 Resistance1- 10250 Resistance2- 10450
Stock Of The WeekRanbaxy: Buy
Ranbaxy is looking bullish on a chart and taking support of 10 DMA.If it manages to sustain above its major resistance level of 560 it will give good upside movement in coming days .So we recommend Buy Ranbaxy above 560 with SL of 540 Target 580,600.
Support- 540 Resistance- 560
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