Nifty

On weekly scale nifty took support at long term trendline, so we could see a good bounce now.

Nifty

Nifty is managing to close above the lower trendline, if the trendline breaks on closing basis than next support comes around 5670-5700 (also at present nifty 100 dma stands at 5762).

NIFTY

 

Nifty has formed a bearish engulfing pattern on weekly scale ,indicating further fall.

Nifty Daily Chart

Nifty has a strong support in the band of 5940-5980.

Happy Diwali