Equityandit’s Outlook for Nifty for week (Nov 06, 2017 – Nov 10, 2017):

NIFTY:

Nifty closed the week on positive note gaining around 1.25%.

As we have mentioned last week, that resistance for the index lies in the zone of 10350 to 10450 where trend-line joining highs formed in the month of September-2016 and August-2017 is lying. If the index manages to close above these levels then the index can move to the levels of 10600 to 10700. During the week the index manages to hit a high of 10462 and close the week around the levels of 10452.

Minor support for the index lies in the zone of 10350 to 10400. Support for the index lies in the zone of 10200 to 10250 where break out levels for the index is lying. If the index manages to close below these levels then the index can drift to the levels of 10000 to 10050 where short term moving averages are lying.

Resistance for the index lies in the zone of 10400 to 10500 where trend-line joining highs formed in the month of September-2016 and August-2017 is lying. If the index manages to close above these levels then the index can move to the levels of 10600 to 10700.

Broad range for the week is seen from 10200 on downside & 10700 on upside.