Weekly Outlook Indian Stock Market (01 - 05 Feb)

WEEKLY TECHNICALS
High: 5035.70
Low: 4766.00
Close: 4882.05
Change: -153.95
RSI (14 Days): 49.2
Pivot: 4895
Support: 4753, 4625
Resistance: 5023, 5164

TECHNICAL CUES
Medium Term
Nifty is in corrective down move (from 21st Jan.) with targets of 5010 (achieved), 4950 (achieved), 4890 (achieved).
The down move will terminate above 5292.
Short Term
Nifty is in downtrend (from 21st Jan.) with targets of 5090 (already achieved), 5020 (achieved).
The down trend will terminate above 4930.
Immediate Term
Nifty was in corrective up move (from 28th Jan.) which is terminated now.
Nifty is again in corrective up move now with targets of 4910, 4930, 4960, 5010.
The up move will terminate below 4766.

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Disclaimer
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