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Nifty

* Nifty opened the week at 18131.70 made a high of 18251.95, low of 17795.55 and close the week at 17859.45 Thus, Nifty closed the week with a loss of 245.45 points on weekly basis.

* On the weekly chart, Nifty started the week on a positive note but witnessed selling at higher levels to end the week. The upper shadow indicates profit booking at higher levels. The index has formed a long bearish candle. The overall trading range for index for coming week would be 17650 - 18250, either side breakout will lead the trend.

* On the daily chart, The index opened with an upward gap but witnessed selling from the opening tick to end negative. The index has formed a bearish candle. The chart pattern suggests that, If Nifty crosses and sustains above 18100 level it would witness buying which would lead the index towards 18200 -18300 levels. However if index breaks below 17800 level it would witness selling which would take the index towards 17700 - 17650

Banknifty

* Banknifty opened the week at 43038.25 made a high of 43578.40 low of 41877.00 and closed the week at 42188.80 Thus, Banknifty close the week with a loss of 797.65 points on weekly basis.

* On the weekly chart, Banknifty started the week on a negative note with traded with extreme volatility on either side during the week but witnessed selling at higher levels to end the week on a weak note. The index has formed a Bearish candle. The overall trading range for Banknifty would be 43600 - 41500 either side breakout will lead the trend.

* On the daily chart, Banknifty opened with flat note and selling for most part of the session led index to close in negative territory but lower shadow indicates buying support at lower levels. The chart pattern suggests that, If Banknifty crosses and sustains above 42700 level it would witness buying which would lead the index towards 43000 - 43400 levels. However if index breaks below 41800 level it would witness selling which would take the index towards 41600- 41300.

Sensex

* Sensex opened the week at 60871.24 made a high of 61343.96, low of 59669.91 and close the week at 59900.37 Thus, Sensex close the week with a loss of 940.37 points on weekly basis.

* On the weekly chart, Sensex has also started the week on a flat note but witnessed selling from the opening tick to end negative territory. The upper shadow indicates profit booking along with selling pressure at higher levels. The index has formed a bearish candle. The overall trading range for index for coming week would be 61400- 59600 either side breakout will lead the trend.

* On the daily chart, The index has also started the week on a flat note but selling pressure throughout the session dragged it lower to close in negative territory. The index has formed a bearish candle. The chart pattern suggests that, if index crosses and sustains above 60500 level it would witness buying which would lead the index towards 60800 - 61300 levels. However if index breaks below 59600 level it would witness selling which would take the index towards 59300- 59000.

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