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Nifty Weekly View: Technically, on an immediate basis, the level of 9700/9750 would be a major hurdle for the market and in the short term. The markets are approaching overbought status. The strategy should be to buy on dips instead of chasing markets at higher levels. Support exists at 9450 and at 9350. As per SGX Nifty, markets are opening in the resistance zone and traders need to be cautious while adding long positions between 9700 and 9750.

However, during the week crossing the level of 9900 would be big positive for the market. Buying is advisable between 9500 and 9450. Keep a final stop at 9350

Bank Nifty is having resistance between 19700/19750 on an immediate basis, during the week it should hit the level of 20000. Buy only on dips.