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Nifty (10/10 - 14/10)

Nifty Trend

 Weekly Basis - Market is in a Uptrend with major support @9705 and Resistance @10145. within this band, market has been ranging for last 4 months.

Daily - On a Daily basis, the minor resistance of 9951 has been broken on upside, with RSI turning positive, but Major resistance of 10044 persists.

 4-Hr and 1Hr Chart

 There was a Doji candlestick observed on 9th Oct closing price, but market opened with major gap upside on 10th Oct. It will be interesting to observe the closing price for 10th Oct.

If the market is unable to sustain the upmove and is unable to clear 10044, then we may expect weakness in price in the coming days.


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