Equityandit’s Outlook for Nifty for week (Sep 25, 2017 – Sep 29, 2017):

NIFTY:

Nifty closed the week on negative note losing around 1.20%.

As we have mentioned last week, that resistance for the index lies in the zone of 10100 to 10130 where the index has formed a top in the month of August-2017. If the index manages to close above these levels then the index can move to the levels of 10300 to 10400. During the week the index manages to hit a high of 10179 and close the week around the levels of 9964.

Support for the index lies in the zone of 9880 to 9920 where short term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 9700 to 9740 from where the index broke out of June-2017 high and medium term moving averages are lying.

Minor resistance for the index lies in the zone of 9980 to 10020. Resistance for the index lies in the zone of 10100 to 10130 where the index has formed a top in the month of August-2017. If the index manages to close above these levels then the index can move to the levels of 10300 to 10400.

Broad range for the week is seen from 9700 on downside & 10200 on upside.