NH-NL for the weekNH-NL on friday is showing bearish divergence on peaks, Nifty heat map for Friday is 36% negative scrips with 20% scrips closing negative on Weekly. Weekly is strong, while daily is marginally weak. Whereas NH-HL shows more caution on the moves up.
We expect sideways to bearish moves for the coming week. Positions in Nifty futures may tighten stop. On bearishness, immediate support is at 4200 and 4000 levels. As weekly trend is very strong, use all weakness and further strength on weakness to go long on the Nifty futures.
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