After an unstable session, the index was reduced to a modest red color. However, during the week, it was hoping for big bang reforms from the newly formed Modi government.
Nifty dropped 23.10 points to 11,922.80 points after allocation of cabinet portfolio by the Modi government. During the week, on the daily chart, the recession made the candle, the index increased by 0.66 percent and the small-scale candlelight on the weekly scale was formed. For May, the index increased by 1.5 percent.
Experts said that unless the record hits the Nifty during the election result week is not exceeded 12,041 - the sharp reversal movement will not be possible in the near term.
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According to the Pivot charts, the key support level is placed at 11,821.8, followed by 11,720.8. If the index starts moving upward, key resistance levels to watch out are 12,031.5 and 12,140.2.
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