Nifty Metal Weekly Outlook and Analysis: For the Week: (Oct 12,2020 - Oct 16,2020) NIFTY METAL Index closed the week on negative note losing 00.40 points 0.02%. Weekly High: 2,345.65 Weekly Low: 2,255.70 Weekly Close: 2,260.85 Weekly Support & Resistance For Nifty Metal Index: RESISTANCE 2 2,377 RESISTANCE 1 2,319 SUPPORT 1 2,229 SUPPORT 2 2,197 NIFTY METAL index formed inverted hammer pattern on weekly charts which suggest pause in trend. We expect index could witness selling pressure if it unable to hold its 100 day ema lies at 2225 levels. Technically on the daily charts we see minor support on the downside for NIFTY METAL index lies at 2200 levels, whereas minor resistance on the upside is capped around 2320-2340 levels. If NIFTY METAL index breaches m

NIFTY ENERGY Weekly Outlook and Analysis: For the Week: (Oct 12,2020 - Oct 16,2020) NIFTY ENERGY Index closed the week on negative note losing 215.90 points 1.43%. Weekly High: 15,166.35 Weekly Low: 14,714.25 Weekly Close: 14,833.80 Weekly Support & Resistance For Nifty Energy Index: RESISTANCE 2 15,356 RESISTANCE 1 15,095 SUPPORT 1 14,643 SUPPORT 2 14,452   NIFTY ENERGY index has continued its trading in lower low lower high pattern. Index closed with negative note despite strong rally in broader indices. We expect index likely to continue this downtrend if index trade below 15200 levels. Technically on the daily charts we see minor support on the downside for NIFTY ENERGY index lies at 14600 levels, whereas minor resistance on the upside is capped a

NIFTY AUTO Weekly Outlook and Analysis: For the Week: (Oct 12,2020 - Oct 16,2020) NIFTY AUTO Index closed the week on positive note gaining 197.40 points 2.48%. Weekly High: 8,260.40 Weekly Low: 7,878.30 Weekly Close: 8,163.50 Weekly Support & Resistance For Nifty Auto Index: RESISTANCE 2 8,482 RESISTANCE 1 8,325 SUPPORT 1 7,941 SUPPORT 2 7,718   NIFTY AUTO index has formed triple top formation on daily charts. Index was unable to surpass this resistance zone despite strong buying in broader indices. Index witnessed profit booking at fag end of the week. We expect index could remain under pressure till it close below 8250 levels. Technically on the daily charts we see minor support on the downside for NIFTY AUTO index lies at 8050 levels, whereas mino

NIFTY PHARMA Weekly Outlook and Analysis: For the Week: (Oct 12,2020 - Oct 16,2020) NIFTY PHARMA Index closed the week on positive note gaining 221.05 points 1.87%. Weekly High: 12,343.70 Weekly Low: 11,748.95 Weekly Close: 12,043.95 Weekly Support & Resistance For Nifty Pharma Index: RESISTANCE 2 12,640 RESISTANCE 1 12,342 SUPPORT 1 11,747 SUPPORT 2 11,450 NIFTY PHARMA index has continued its range trading activity with muted gain. We expect index continue this mild bullish activity till it trade above 11800 levels. Index could witnessed profit booking if it close below said levels. Technically on the daily charts we see minor support on the downside for NIFTY PHARMA index lies at 11850 levels, whereas minor resistance on the upside is capped around 12350-12

NIFTY FMCG Weekly Outlook and Analysis: For the Week: (Oct 12,2020 - Oct 16,2020) NIFTY FMCG Index closed the week on negative note losing 85.65 points 0.29%. Weekly High: 30,397 Weekly Low: 29,862.30 Weekly Close: 29,923.90 Weekly Support & Resistance For Nifty FMCG Index: RESISTANCE 2 30,595 RESISTANCE 1 30,259 SUPPORT 1 29,725 SUPPORT 2 29,526 NIFTY FMCG index has witnessed inverted hammer candle pattern on weekly charts, which suggest pause in trend. We expect index could remain under pressure till it trade below its falling tend line. Technically on the daily charts we see minor support on the downside for NIFTY FMCG index lies at 29500 levels, whereas minor resistance on the upside is capped around 30350--30400 levels. If NIFTY FMCG index breaches mi

NIFTY IT Weekly Outlook and Analysis: For the Week: (Oct 12,2020 - Oct 16,2020) NIFTY IT Index closed the week on positive note gaining 1727.25 points 8.59%. Weekly High: 22,169.30 Weekly Low: 20,341.45 Weekly Close: 21,837.65 Weekly Support & Resistance For Nifty IT Index: RESISTANCE 2 23,277 RESISTANCE 1 22,557 SUPPORT 1 20,729 SUPPORT 2 19,621 NIFTY IT index has clocked strong gain amid TCS buy back offer. Index registered massive weekly gain of this rally. We expect index likely to digest this gain and witness range bound activity. However, any surprise announcement by other company could stretch this rally as result season is in progress. Technically on the daily charts we see minor support on the downside for Nifty IT index lies at 21450 levels, whereas

Bank Nifty Weekly Outlook and Analysis: For the Week: (Oct 12,2020 - Oct 16,2020) NIFTY BANK Index closed the week on positive note gaining 1600.80 points 7.20%. Weekly High: 23,904.10 Weekly Low: 22,247.25 Weekly Close: 23,846.80 Weekly Support & Resistance For Nifty Bank Index: RESISTANCE 2 24,989 RESISTANCE 1 24,418 SUPPORT 1 22,761 SUPPORT 2 21,675 NIFTY BANK index has witnessed rally back of strong performance in broader indices. Index manage to close above its 200 day ema after long time. We expect index could continue this uptrend. Momentum indicators in overbought zone bargain buying is advisable. Technically on the daily charts we see minor support on the downside for NIFTY BANK index lies at 23100 levels, whereas minor resistance on the upside is ca

Nifty50 Index Weekly Outlook and Analysis: For the Week: (Oct 12,2020 - Oct 16,2020) NIFTY 50 Index closed the week on positive note gaining 497.25 points 4.36%. Weekly High: 11,938.60 Weekly Low: 11,452.30 Weekly Close: 11,914.20 Weekly Support & Resistance For Nifty Index: RESISTANCE 2 12,254 RESISTANCE 1 12,084 SUPPORT 1 11,598 SUPPORT 2 11,282 NIFTY 50 witnessed sharp rally after it surpass strong resistance zone of 11550-11650 levels. Index was rallied tracking recovery in US market and short covering. We expect indices could continue this uptrend. However, index rallied six day in raw and overbought on intraday charts, we suggest trader should adopt buy on dip strategy. Technically on the daily charts we see minor support on the downside for nifty 50 in