Weekly Market Outlook of Mr. Rakesh Tarway, Head of Research, Reliance Securities

Nifty is resisting to cross 9,000 mark and has closed in negative as compared to last week's close after 5 weeks of up-move from sub-8400 levels. The domestic news flow with respect to the exit polls in the middle of the week could be a key trigger for a swift move on either side in the coming week. The trend reversal point will be at 8,800 levels which is the average traded price of the last month. The option data also suggests a strong breakout on either side as the open interest (OI) levels are almost equally balanced at 9000 CE with an OI of 53 lakhs shares and at 8,800 PE with an OI of 40 lakhs shares.

Source : Equity Bulls

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