Nifty Update for November 10 - Inder Bhatia

Hourly: The Indian market opened on a weak note and saw a choppy start but Nifty recovered in the afternoon session and closed in the green zone. For the coming session if Nifty crosses 3010 it could test the 3125-3156 zone. On the lower side 2850 will act strong support zone.

Daily: Last week Nifty gained 3.30 percent and continued the momentum for the upside. For the coming week, Nifty is forming an inverse Head and Shoulder pattern on the daily chart. It needs to break the neckline with volume for a valid pattern. For the coming session, if Nifty closes above 3024 it could test 3125-3189. On the upside 3254 would act as a strong resistance zone. If nifty is able to cross the 3254 zone, it will test 3439-3569. On the lower side 2850 would act as a support, and breaking below 2850 Nifty could 2750-2729 zone.

Weekly: On weekly Nifty has made an inverted Hammer pattern, which points toward the up side. Nifty would face strong resistance near 3250 zone.

Buy RELINFRA above 573 TGT 611>630 Stoploss 553.

Buy IOC above 370 TGT 381>393 Stoploss 363.