NIFTY Weekly Technicals

Markets were volatile last week but rebounded again.

Satyam saga still continuous as Raju wants a bail.

Markets cherished on Friday on account of global cues.

Now Inflation is at 11 months low at 5.24%.

Nifty is now in slaggy mode. Expect a range bounded movement from here.

NIFTY has a support at 2790 and 2710 and a resistace at 2950 and 3025.

Only if NIFTY crosses 2950 we would touch 3000 mark.

Simple Moving Averages -

5 D	8 D	13 D	20 D	39 D	50 D	200 D
2784	2853	2920	2940	2861	2877	3981

We are currently in 50 D moving averages. If crossed we can reach 3K mark.

Fibonacci price projections-

	0%	61.8%	100%	161.8%	261.8%
Up	2813	3019	3147	3353	3687
Dn	3147	2941	2813	2607	2273

Chart - 

Chart shows slightly berrish movements.

But Monday expect a positive opening.

Happy Investing.

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