Equityandit’s Outlook for Nifty for week (Nov 27, 2017 – Dec 01, 2017):

NIFTY:

Nifty closed the week on positive note gaining around 1.00%.

As we have mentioned last week, that 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. During the week the index manages to hit a high of 10404 and close the week around the levels of 10390.

Minor support for the index lies in the zone of 10300 to 10320. 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 10150 where short term moving averages are lying.

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 10200 on downside & 10600 on upside.