EquityPandit’s Outlook for Nifty for the week  (Sep 17, 2018 – Sep 21, 2018):

NIFTY:

Nifty closed the week on negative note losing around 0.60%.

As we have mentioned last week that minor support for the index lies around 11400 to 11450. Support for the index lies in the zone of 11100 to 11200 from where the index broke out of earlier high. If the index manages to close below these levels then the index can drift to the levels of 10900 to 11000 from where the index broke out of double top and triangle pattern. During the week the index manages to hit a low of 11250 and close the week around the levels of 11515.

Minor support for the index lies around 11400 to 11450. Support for the index lies in the zone of 11100 to 11200 from where the index broke out of earlier high. If the index manages to close below these levels then the index can drift to the levels of 10900 to 11000 from where the index broke out of double top and triangle pattern.

Resistance for the index lies around 11600 to 11650 from where the index has broken down after consolidation. If the index manages to close above these levels then the index can move to the levels of 11750 to 11800 where high for the month of August-2018 is lying.

Broad range for the week is seen from 11200 on downside & 11800 on upside.