Nifty Technical View for Week Starting 26 July

Nifty closed the week with 0.98% Gain on W-o-W basis and a new 2010 High of 5477.50 and came out of the range of 5400 on the back of strong FII buying which we are witnessing. As per the corporate results which are declared as of now are much ahead of market expectation in banking ,power equipment sector.
Next week will be quiet crucial as we have 2 crucial events lined up a:Reliance Industries the market posterboy result on tueday b)RBI policy meet at 27th July where the Rate Hike will be decided.
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