Nifty future closed the week at 8381.65. There were only three trading sessions for the week. The week witnessed again buy on the dips as expected since we are in short term uptrend. Despite facing the selling pressure in the 1st half of the trading session on Friday nifty bounced back strongly in second half and closed around the opening of the day.
Now week ahead beginning from 10 November 2014. Nifty future will face hurdle at 8420 once this level sustains next round of buying shall happen in market for next resistance at 8480-8550 the major resistance is now at 8600 plus levels thou we doubt that to see soon but trend is up so avoid any guesswork to keep shorting because its too high.
The supports for market is at 8325 and 8260 if market remains below 8360 in second half of Mondays trading session one can initiate shorts with protective stops of 8420 for a price target of 8260