Markets action for the Week
The Nifty Index has done a positive close taking well-expected support at 40WEMA. The weekly candle closed in green, leaving an impression that the lower levels are arrested now. Weekly RSI is turned from over-sold to a slightly buy momentum. We need a further conformation on the level up towards 17500, which is possible only above 17250, a very crucial resistance in this expiry week. There is strong participation from Metals, IT, and FMCG, but this is not enough to…