Chart Reading: Sensex, Nifty and Nifty Bank heading towards breakout levels

The Nifty50 index rose by 80 points on Friday rising above 10,850 to close at 10,859. It finished the week with a gain of 1 per cent.

NSE Nifty50: The index rose by 80 points on Friday rising above 10,850 to close at 10,859. It finished the week with a gain of 1 per cent. The current level is near 100-DMA, located at 10,914 as per the daily chart. A recovery from 10,534 with an immediate gap up close and a red candle crossing high of 10,834 indicate it is heading towards the breakout level. The 100-DMA of 10,914 along with recent high of 10,985 stay as the immediate resistance level. The support comes at 10,750 levels followed by 10,680. The trend indicates Nifty is heading towards