Markets look reasonably positive for the coming week, however, we can expect volatility on account of elections.
The Nifty has significantly breached resistance of 11,000 levels. For the week, the auto sector was up 6.3 percent and consumption was up by about 4 percent. PSU banks did not do well and declined 2.8 percent, while metals was down 2.7 percent.
It formed a strong bullish candlestick pattern on weekly charts, while on the daily chart it formed a Doji pattern. Markets look reasonably positive for the coming week, however, we can expect volatility on account of elections.Dinesh Rohira, Technical Analyst at 5nance.com says, trade with strict stop losses. Resistance is at 11,180 and support is at 10850.The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .