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Weekly Nifty Report for 22/july/2013 – 26/july/2013

Weekly Nifty Report for 22/july/2013 – 26/july/2013

Markets settled the volatile week on a strong note led by strong nos. from heavyweight stocks and other domestic cues. Nifty future was able to hold on higher levels and closed above the crucial mark of 6000. On weekly charts, index is heading towards the upper band of channel pattern where 6130 is seen as strict resistance from where certain correction might happen but if it holds above this then it may lead towards previous highs of 6240. On lower side, support range for the coming week is seen in the range of 5930-5840.

REND: SIDEWAYS

SUPPORT: 5930/5840

RESISTANCE: 6130/6240

CRUCIAL POINT: 6130

CLOSE: 6042.55

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