CNX NIFTY – TECHNICAL REPORT
Based on Market Closing as on Friday September 29,2017

Technical Report:

Date: 29/09/2017

 The Nifty fell moderately in the last week a net 175.80 points (-1.8%) and closed at 9788.60 point level. The market moved in a range of 272.95 points and the sentiment was bearish. The momentum indicators and the short term simple moving averages (5 and 15) indicates downward bias. Further the index closed below the trend line support. Next support for the index is at 9700 levels. If the index closes below this level on a weekly basis, the possibility to test the lower bound the up channel. Weekly supports -9700 -9450 - Resistance -9940 - 10180.

Technical Report:

Date: 15/09/2017

 The Nifty rose moderately  in the last week a net 150.60 points (1.5%) and closed at 10085.40 point level. The market moved in a range of 163.20 points and the sentiment was bullish. The RSI and stochastic indicator signal, positive bias. Further the index remains above  short term simple moving averages (5,15 and 25). The medium term positive trend will continue as long as the index remains above the 9835 point level. Weekly supports -9835 -9700 - Resistance -10140 - 10300.

Technical Report:

Date: 08/09/2017

 The Nifty fell marginally in the last week a net 39.60 points (-0.4%) and closed at 9934.80 point level. The market moved in a range of 127.30 points and the sentiment was mixed. The momentum indicators signal, neutral bias. But the short term simple moving averages (5,15 and 25) signal, positive bias. Further the index remains above the long term trend line support. The medium term positive trend will continue as long as the index remains above the trend line. Weekly supports -9786 -9700 - Resistance -10140

Technical Report:

Date: 11/08/2017

 The Nifty fell moderately in the last week a net 355.60 points (-3.5%) and closed at 9710.80 point level. The market moved in a range of 402.55 points and the sentiment was bearish. The momentum indicators signal, neutral bias. But the short term simple moving averages (15 and 25) signal, positive bias. However, last week the index closed near the support level 9700. If the index closes below this level on a weekly basis, the medium term trend of the market may change to downward. On the upside the upper bound of the channel acts as strong resistance for the market and this point remains around10165 levels. Weekly supports -9700 -9300 - Resistance -10165 -10550.