NIFTY weekly technicals.

Last week I said I see markets headed towards 3050 and markets end at 3077.

NIFTY is yet a bit bullish and I expect markets to touch 3100 in this week.

If it crosses 3115 then we see NIFTY headed towards 3220 and 3260.

Monday expect a positive to flat opening.

Simple moving averages –

5 D	8 D	13 D	20 D	39 D	50 D	200 D
3023	2986	2884	2814	2835	2953	4157

Support and resistance –

Previous resistance Previous support Weekly close 5 days highest high 5 days lowest low

2833 2503 2921 3107 2923

Other Indicators –

- Volume (last/ 5 day average): 0 / 0
- 5 day RSI: 73 - no indication.
- 14 day RSI: 59 - no indication.
- Williams % R(14): 95 (summation factor 100)
- Average Directional Index ADX: 18
- Average True Range ATR: 5 days - 113 .....14 days - 133

Happy Investing.

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