NIFTY WEEKLY TECHNICAL
REPORT
Current
Level: 11353.85
Support:
11146.10-11193.10-11301.20
Resistance:
11363.20-11401.30-11460.70-11495.70-11561.10
· Key weekly support is
at 11301.20. There will be another wave of sell off below 11301.20 to 11193.10
and 11086.60.
· Nifty needs to trade
over 11363 till tomorrow to be in bullish zone.
· Intraday volatility
will be very high.
FII
inflows continue to be very high. India is getting the benefit of safe haven
among emerging nations. There is political stability. Our foreign exchange
reserves are high enough to sustain a global shock. In comparison to
competitive emerging market nations, India is way better to off despite high
budget imbalances. Indian stock markets at the moment is a safe haven for
global investors. There will be sharp corrections if and when Turkey and other
issues settle down.
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