Weekly Stock Market Technical Analysis Report By CapitalHeight

·         Indian markets ended flat. Nifty, Sensex down by 0.24% & 0.05%.

·         Wall Street closed higher on mixed global macro economic data.

·         Asia-Pacific markets traded mixed. German Prelim GDP 0.4 (q/q).

Indian markets closed flat to negative note. Global markets edged higher on upbeat trade data from China and an optimistic economic outlook from Federal Reserve Chair Janet Yellen. Europe Flash GDP 0.3% (q/q). Chinese exports jumped 10.6% in January from a year earlier and consumer prices rose 2.5% in January. US Industrial Production -0.3% (m/m) and Jobless claims increased by 8,000 to 339,000 in the week. Nifty is expected to be range bound and will move within the spread of 6300 to 5850 level.

            Indian markets ended slightly lower for the week on mixed economic data. India Industrial output fell 0.6% in December as against a 1.3% decline in November

           World markets traded mixed in volatile trade on the back of mixed macro economic data. Europe stocks traded higher with CAC up by 2.65 %, DAX up by 3.88% and FTSE by 1.40 %. US markets jumped with DJIA up by 2.28 %, NASDAQ up by 2.86% and S&P 500 up by 2.32%.

Nifty Weekly Outlook:

Strategy: - Sell On High

 Trend: - Consolidate

 Resistance: - 6130, 6250

 Support: - 5980, 5850

 Bank Nifty Weekly Outlook:

Strategy: - Sell On High

 Trend: - Consolidate

 Resistance: - 10450, 10700

 Support: - 10050, 9750

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