In our weekly note last week, we had discussed about the likelihood of the Nifty attempting to move past its falling trend line resistance, which joins the lower tops.
In the week gone by, the benchmark index struggled throughout to move past this pattern area resistance but could not make any clear headway on the upside. The pullback seen on the last trading session of the week helped the Nifty index close the week with a gain of 50.05 points, or 0.46 per cent.
The 10,890 and 10,975 levels are likely to act as immediate resistance for Nifty50 in the coming week. Supports should come in at 10,765 and 10,660 levels.
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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