Nifty likely to face resistance at 10,500 levels: CapitalVia Global

Market overview and technical calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor

Nifty closed on a higher note; Technology stocks shine

The Indian markets traded with a positive sentiment last week on mixed global cues. Technology stocks rallied sharply which helped the index defend 10,300-mark on a weekly basis on Friday, however, banking stocks traded with weaker sentiments. Nifty closed above 10,300, which shows that the market is still in consolidation mode and needs to break 10,519 as 200-DEMA is placed there which might act as a critical level to break. Nifty managed to close at 10,383, adding 94.10 points. Technology and PSU Bank stocks closed on a positive note, but FMCG, realty,