The Nifty closed 0.54 percent higher for the week-ended July 6 amid fears of a trade war between US and China and depreciating rupee versus the dollar.
The index closed above most of its crucial short-term moving averages such as its 5, 13, and 50-day exponential moving average (EMA) on the daily charts.
The index failed to held on to its crucial level of 10,800 and closed marginally above 10,770. Most analysts advise investors to wait for a breakout in either side before initiating fresh positions.
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