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Last Updated : Jan 01, 2019 12:06 PM IST | Source: Moneycontrol.com

Buy or Sell | Nifty may test 10,985; Crucial support at 10,820-10,764

With the Nifty now in short term uptrend, and closing above the 200-day EMA, the coming week could see the Nifty targeting the recent high of 10,985.

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The market ended the week in the green after sliding lower in the initial part of the week. A sharp bounceback was seen from the lows of 10,534 which roughly corresponds to the 50-DMA.

With the Nifty now in short term uptrend, and closing above the 200-day EMA, the coming week could see the Nifty targeting the recent high of 10,985.

A close above these levels could see bulls gaining control. This will imply that the Nifty has broken out of the 6-week trading range. Crucial support for the coming week is in the range of 10,820-10,764.

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First Published on Jan 1, 2019 12:06 pm
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