It was dowdy week for Indian Stock Markets. Both benchmark indices were down 4.5% during the week. For the next week Indian market will depend on Global Markets.
Technically Nifty is oversold in its daily and weekly charts while monthly charts are showing some more downtrend. Next August F&O expiry is scheduled which will give some support to our markets. However 4,800-4,760 remains a crucial level of Nifty. For Nifty immediate resistance comes around 5,120 levels.
Ref : Nifty Trading Strategy
Technically Nifty is oversold in its daily and weekly charts while monthly charts are showing some more downtrend. Next August F&O expiry is scheduled which will give some support to our markets. However 4,800-4,760 remains a crucial level of Nifty. For Nifty immediate resistance comes around 5,120 levels.
Ref : Nifty Trading Strategy
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