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Stock calls and Outlook on Nifty by Mr. Sameet Chavan, Chief Analyst- Technical & Derivatives, Angel Broking Ltd.

Nifty above 11000, hopes alive for further relief
 

The Nifty started trading on a positive note during the past week and rallied higher to surpass the 11,000 mark. Although, the index witnessed some retracement on Tursday, September 12, from its highs, the minor dip was bought into on the last day of the week and Nifty ended well above the 11,000 mark. Despite a truncated week, Nifty managed to clock decent gains over a percent on weekly basis, keeping hopes alive for further relief.
 

During the last week, we had highlighted about the formation of reversal pattern on the weekly