Markets Weekly Update

Markets Weekly Update

Nifty ended green this week and closed marginally lower to 20wMA 17628. The close above 17558 and 17628 are the levels we are looking forward to as the trend is still up. The upper channel resistance is at 18200. The bigger levels are expected above 18200 are 18448 and 18900 in the next leg of the move. The entire move that is expected should hold the lower levels at 17244.

BankNifty is showing strength as it is trading above 20WMA 37667. Keeping the momentum in mind, it should head towards 42000 and then 44000. The upper resistance is placed at 40500. 37650 and 37333 are the crucial supports to hold in the next up move.

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