This week ended on a not so positive note. Let's look at what the technical indicators say:
Moving averages are traveling almost parallel. The 20 day moving average has branched out by a few points in the last month. Overall, no signs of any big change very soon.
Volume is very good, showing high interest in the stock market and trading of NIFTY.
2 lines of support can be drawn using previous weeks' resistance points. These two lines can act as support in case NIFTY falls lower below.
Other important indicators point to a negative candle for the next week as well. Is this going to be a non-optimistic Diwali?
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