Weekly Nifty 50, as week ended on 1/10/2020
As the week ended on 1/10/2020, nifty had decent follow-up till weekly important levels.
As far as I understand the structure of Nifty 50, 11460 level will be key weekly level, above which there is highest probability of nifty ending its bearish phase. Nifty 500 which is larger domain index has been always been leading indicator through out this rally. Nifty 500 has already managed to surge up its weekly significant level. We can take this as leading sign for nifty 50. Large weighted sector Bank Nifty and Nifty financials are trying to bounce from there weekly support levels.
Next week probably will be the confirmation week.
As far as I understand the structure of Nifty 50, 11460 level will be key weekly level, above which there is highest probability of nifty ending its bearish phase. Nifty 500 which is larger domain index has been always been leading indicator through out this rally. Nifty 500 has already managed to surge up its weekly significant level. We can take this as leading sign for nifty 50. Large weighted sector Bank Nifty and Nifty financials are trying to bounce from there weekly support levels.
Next week probably will be the confirmation week.
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