*Nifty 50 weekly update*
In last week nifty made high 11145, low 10901 and closed at 11047 . As we mentioned before 11150 act as strong resistance area and from there we saw selling pressure so one should be cautious at higher level.
We believe that Nifty has a lot of resistance in the range of 11150-11200 and trend will turn bullish only if Nifty close above 11200, thus long positions should be taken only on a break out above 11200. On downside , the possibility is high that soon Nifty can break support range of 10800-10750 and can come in the range of 10550-10600.On upside 11200 and on downside 10750 are very crucial level for coming days.
*Next Week Pivot* *Levels*
R2 - 11276
R1 - 11061
P - 11031
S2 - 10787.
Stock specific action will be remaining both side.