Nifty in the weekly charts showcased long legged doji pattern where the market is not able to propel further from past two weeks and today’s trade witnessed clearly the weekly trend where Nifty failed to dispatch further elevation and ended the week with bearish candle. Though there were numerous attempts made by the bears to have uptrend it was unable to befriend and confirm the trend.
Experts say that there are strong supports at 8750-80 levels and a weekly close above 8800 today will likely indicate a bullish trend. However neither bulls nor bears were stronger hands this week. There was an exhaustion gap today when Nifty opened due to decreasing demand and the gap may be filled by upward trend in price movements.
In expiry week it may trade in the rage of 8700- 8650 to 8900-8950 . General trend is bullish in my opinion