Indian Indices Witnessed Buying Interest During the Week

The Indian indices ended the week on a positive note. The Nifty 50 Index opened the weekly session gap up and rallied strongly to end the session 100 points up. The bullish momentum continued until mid-week where the index found some selling pressure on back of US - China trade war. But bulls weren't willing to give up. Next day, the index regained its strength as it soared nearly 200 points. Finally, it ended the weekly session 2.15% up.

Last week, we saw the index resisting from its 200 day moving average (DMA). But this week, it broke above the DMA which indicates strength. It also broke above the channel's resistance line (red line) suggesting further strength.

So can the index maintain the bullish momentum in the week to come? If it does, watch out for 10,500 level which is a strong resistance level for the index.

To know more about what's happening in the global and Indian stock markets, you can read the detailed market update here...

Nifty 50 Index Ends the Week 2% Up
Nifty 50 Index Witnesses Buying Interest 

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