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Bullish if close above 11500

for the week between 23 to 27 SEPTEMBER, 2019 NIFTY : 11274  (+198)     Nifty traded in a  range of 11382 to 10670 during last week andclosed nearer to the High of the range at 11274 with a gain of 198 Points and made a Positive weekly close. This week has been an exceptional one as FM announced a big bonanza on Friday by cutting Corporate Tax about 5%. - 20 DMA, 50DMA, 100DMA, 200 DMAs are placed at about 10946, 11115, 11418,11230 respectively and they would act as Supports and Resistances. - Nifty presently above many DMAs but 50 DMA came below 200 DMA (Death Cross) suggesting that the Long term outlook has been bearish It would become Bearish in short term if it closes belolw 11150 by the weekend.  Technical Levesl... Breakout level : 11500       Breakdown level : 11150 Bullish above  11350 with Resistance at 11425, 11500 Bearish below  11200  with Supports at 11125, 11150 Advice for Traders... Weekly Open level is very important for the entire week. Long  positions may be considered  as l…