What brokers expect for markets next week?
We at myiris have collated views from leading broking firms on next week`s markets performance. The same is as under:
Aditya Birla Money:
The daily Nifty chart suggests continuation of bullish trend as Nifty has closed above 5,100 levels. However, in the forthcoming trading session, confirmation of the trend would be seen if Nifty sustains 5,148 levels and breaks 5,198 levels. Technically Nifty resistance is seen at 5,198 levels and break of the level would test 5,240 levels in near term. On downside Nifty support is seen at 5,050 and break of it would test 4,980 levels in near term.
Geojit
Nifty is having support at 5,100 and 5,070, while the resistance is there at 5,171 and 5,250 levels.
PINC Money:
Indian equity indices have sustained their bullish structure following some very encouraging technical patterns. The Nifty has moved above 5,100 which is a crucial resistance level. This development opens the potential for the Nifty to reach 5,475. The underlying technical indicators retain a bullish poise and there is every possibility that this target can be reached. We are bullish on the markets and believe that the uptrend is likely to sustain and reach higher levels over the medium term.
Source : my Iris
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