The previous week had a rollercoaster-like quality. Resistance was predicted by the LTP calculator to be at 17,503, and support was predicted to be at 17,141. The range was indicated at 17,800 for resistance on Thursday morning and 17,700 for support.

Since the morning, it has been clear that this market is breaking, as evidenced by the fact that support was clearly weak near the bottom and resistance was solid. Clear support at the weekly range of 17600 was encouraging us to believe that the market would close within 17580, and with time the support grew firmer. This divergence was 17,750 when the market hit its extension of support, which was 17,720. When the market temporarily stalled on this diversion and was then seen breaking away from it, even if the diversion rose to 17,630, the high-risk trader may have chosen to purchase puts at this price of 17,735. The advice market’s capacity for help is now full. By 1:00 p.m., the support had arrived and was prepared to transfer. Moreover, the resistance itself had grown incredibly powerful.

The Sensex lost 671.15 points on the day, closing at 59,135.13. Nifty closed at 17,412.90, a decrease of 176.70 points. The top 5 gainers in the cue were Seamec Ltd, Nahar Spinning Mills Limited, Nahar Poly Films Ltd, Nahar Capital and Financial Services Ltd, and Creative Eye Ltd. Top losses in the market last week were Shigan Quantum Technologies Ltd., Lead Reclaim and Rubber Product Ltd., Alpine Industries Ltd., Sanwaria Consumer Ltd., and Nucleus Software Exports Ltd.

LTP CALCULATOR ANTICIPATION FOR THE NEXT WEEKLY RANGE OF NIFTY 

Investors should be aware of these aspects as the LTP Calculator Option Chain shows that the NIFTY’s next weekly range Resistance and Support are, respectively, 17,785 and 17,395.