• Month till date Nifty 50 up by near to 6%, in the week gone by Index was up by near 1.5%.
• In the previous week, the Index traded sideways to a positive view.
• Index kept on facing resistance at 16700 level but there was no breach of support which enforces positive stand on the market.
• Energy, Metal & IT continued to do well.
• Selling pressure observed in Auto, media sector. Rest other sector ended on a positive note.
• Midcap and small cap sector reviving after strong declining movement.
• On a very short term basis, Index will remain on the positive ground as far as it sustains above 16580 level.
• The next best support level lies at 16350 level.
• Move above 16700 level will lead to further upside movement. The next best resistance lies at 16850 and 17000 level.
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