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Street signs: 9,700, a hurdle for Nifty's climb

Analysts said three unsuccessful attempts have been made, falling slightly short every time

Samie Modak 

Many investors have set their eyes on the 10,000-point mark for the National Stock Exchange's benchmark index, Nifty 50. However, the index is facing stiff resistance at 9,700 points. Technical analysts say the 50-share index has so far made three unsuccessful attempts to cross the psychological hurdle, falling slightly short every time. On Friday, it closed at 9,665.8. “The index can top 10,000 within weeks once it convincingly crosses 9,700-9,720 level,” says one technical analyst. CDSL closes gap with parent Shares of Central Depository Services (CDSL) ...

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