Equityandit’s Outlook for Nifty for week (Nov 20, 2017 – Nov 24, 2017):

NIFTY:

Nifty closed the week on negative note losing around 0.40%.

As we have mentioned last week, that 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 10050 to 10100 where short term moving averages are lying. During the week the index manages to hit a low of 10094 and close the week around the levels of 10284.

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 10050 to 10100 where short term moving averages are lying.

Minor resistance for the index lies in the zone of 10350 to 10400. Resistance for the index lies in the zone of 10480 to 10520 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 10650 to 10700.

Broad range for the week is seen from 10100 on downside & 10600 on upside.