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HAPPY TRADING !!

NIFTY IT:

NIFTY IT Index closed the week on negative note losing 63.85 Points 0.40%.

Weekly High: 15,936

Weekly Low: 15,657.50

Weekly Close: 15,780.70

Technically on the daily charts we see minor support on the downside for Nifty IT index lies at 15600 levels, whereas minor resistance on the upside is capped around 15950-16000 levels.

If Nifty IT index breaches minor support on the downside and closes below it, we may see fresh break down and index can drag towards major support on lower side around 15450 and if breaches minor resistance on the upside and closes above it, we may see fresh breakout and index can head towards higher levels around 16200.

Currently Nifty IT index is trading above 200 days exponential moving average and suggests long term trend is bullish. Equity Pandit’s analyst predicts range for the week is seen from 15500 on downside and 16200 on upside.

RESISTANCE 2: 16,069

RESISTANCE 1: 15,925

SUPPORT 1: 15,646

SUPPORT 2: 15,512